PF Withdrawal Via ATMs
As soon as EPFO 3.0 is rolled out, EPF members can entry their provident fund financial savings through ATM withdrawals. To make use of this characteristic, members should activate their UAN and guarantee their Aadhaar is linked with their checking account. This measure is aimed toward serving to members safe cash promptly in occasions of urgency.
Withdrawals Via UPI
As a part of India’s digital cost revolution, the brand new EPFO 3.0 system will let members withdraw cash through UPI. This characteristic is designed to make withdrawing funds quicker and simpler by curbing prolonged utility processes.
Less complicated Course of For On-line Claims
The brand new system will permit members to submit corrections or updates on-line via OTP authentication, eradicating the need of bodily visiting an EPFO workplace. Moreover, monitoring the progress of their claims will change into extra easy.
Faster Settlement Of Dying Claims
The settlement process for dying claims can be streamlined to make sure quicker disbursal to nominees. Within the case of minor beneficiaries, households will now not want to supply a guardian certificates, facilitating immediate entry to funds.
Cellular-Pleasant Utilization Expertise
The upcoming platform focuses on cell accessibility. The brand new system will allow members to simply entry and handle account particulars, observe deposits, and verify declare statuses at any time when wanted.
The upcoming digital overhaul of EPFO is ready to minimise delays, broaden accessibility and align with India’s quickly creating fintech sector. Upon its launch, this upgraded platform can be one of the vital transformative enhancements to the EPF system in latest occasions.