Employees Provident Fund Organization
In the last one week, people’s search regarding EPFO 3.0 on Google Trends has suddenly increased rapidly. The reason is clear, Employees Provident Fund Organization (EPFO) is going to bring the biggest technology upgrade of its system till date. It promises fast claim settlement, instant withdrawal facility and easy access like a bank, hence crores of working people are eager about it.
EPFO 3.0 will be launched as a completely modern and member-friendly digital platform. Last year, Labor Minister Mansukh Mandaviya had said that the new system will make EPFO services as easy as banking. This is a big reason for people’s interest even today.
Why are searches increasing regarding EPFO 3.0?
According to the Indian Express report, EPFO 3.0 will have a new system architecture, upgraded software and AI-based language tools. With this, more than 8 crore active members will get faster and better services. In future, its benefits can reach about 30 crore members across the country. This system will be implemented in phases and will have a core banking system, cloud technology and module-based framework, which will make account management, complaint redressal and other services easier.
Special features of EPFO 3.0
- Fast and automatic settlement of claims
- Instant withdrawal facility
- Multi-Language Self-Service
- better resolution of complaints
- Death claim process easy for nominee
- Access to EPF funds like ATM and bank
The most talked about thing is that in future people will be able to easily use their PF money like ATM or bank account.
Preparation to withdraw PF from UPI
Under EPFO 3.0, the facility of PF withdrawal can also be brought through UPI. According to the report, members will be able to transfer a certain part of their PF balance directly to their bank account through UPI. This will save you from the long process and you will get the money quickly.
Technology upgrade is also big
Big companies like TCS, Infosys and Wipro have been shortlisted for EPFO 3.0. Besides, ECR system, pension payment system and internal digital tools are also being upgraded. Overall, due to facilities like AI, banking and UPI withdrawal, EPFO 3.0 can become a big relief for the people. For this reason it is continuously trending on Google Trends.