The Employees’ Provident Fund Organization (EPFO) is going to launch a new and better digital service for its millions of subscribers. Soon a new and modern app named EPFO 3.0 will be launched. The responsibility of developing and maintaining this new IT system has been given to the three big IT companies of the country – TCS, Infosys and Wipro.
This step will make EPFO even more modern and efficient, so that users can get better facilities than before.
These facilities will be available after the launch of EPFO 3.0
The new app will make many processes related to EPFO simpler and faster.
Auto Claim Settlement: The process of claim settlement will become completely automatic. This will eliminate manual work, which will make the system work even faster and more effectively.
Online Account Update: Now you will not need to go to the EPFO office to update information like name or date of birth. Users will be able to make these changes online from home.
PF Withdrawal from ATM: Once the claim is approved, subscribers will be able to withdraw PF money from ATM just like a bank transaction.
OTP Verification: Instead of filling the traditional form, now verification will be done through OTP (One-Time Password) for any account related changes. This will make the process secure and easy.
Better Pension Service: Centralized Pension Payment System (CPPS) has been approved for pensioners under EPS 1995. With this new system, pensioners will be able to withdraw their pension from any branch of any bank in the country.
This new system is a big step towards promoting Digital India, which will further improve the experience of millions of EPFO members.
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