NEW DELHI: Union labour minister Mansukh Mandaviya on Thursday said that the employees provident fund organisation (EPFO) will soon launch the “EPFO 3.0 version.” He added that the enhanced version will allow subscribers to withdraw their provident fund directly from ATMs, among other new features.
Speaking at the inauguration of EPFO’s Telangana zonal office and regional office in Hyderabad, Mandaviya said the upcoming version would bring EPFO on par with banking systems. “In the coming days, EPFO 3.0 version will be launched. This means EPFO will become equivalent to a bank. Like how transactions are carried out in a bank, you (EPFO subscribers) have your universal account number (UAN), and you will be able to do all your work,” he said.
He emphasised that subscribers will no longer need to visit EPFO offices or approach their employers for fund withdrawals. “It is your money, and you can withdraw it as and when you want. now, you still need to go to EPFO offices. I promise you, in the coming days, you will be able to withdraw your money from ATMs whenever you want. we are carrying out such reforms in EPFO,” Mandaviya said.
The minister also virtually inaugurated the regional office in Naroda, Gujarat, and laid the foundation stone for staff quarters in Gurugram, Haryana. he highlighted that under Prime Minister Narendra Modi‘s leadership, EPFO is undergoing significant reforms aimed at enhancing efficiency and accessibility.
According to Mandaviya, complaints related to EPFO services are decreasing while overall service quality is improving. “EPFO’s system and working style have changed with a pro-people approach,” he added.
He further detailed ongoing changes within the EPFO platform, including streamlined fund transfers, claim processing, corrections in subscriber details, and the ability to withdraw pensions from any bank. These measures, he said, are intended to modernise the organisation and provide seamless services to beneficiaries.
Union minister of coal and mines G Kishan Reddy also addressed the event, endorsing the reforms and praising the government’s commitment to improving EPFO services for millions of subscribers.