The Employees provident fund Organization (EPFO) has rolled out some new rules in the year 2025 and it is of great significance to crores of PF account holders in India. These alterations do not only facilitate your retirement fund, but it accelerates the withdrawal and pension. How about getting acquainted with these new rules and finding out what they entail to you.
Introduction Of Centralized Pension System
Since 1 January 2025, EPFO has adopted the Centralized Pension Payment System (CPPS). Under NPCI platform, now pension will be deposited in any bank account directly. Previously the pension used to be handled by the regional offices basing on the Pension Payment Order (PPO) which used to be time-consuming. Under this new system, pension becomes quicker and transparent.
ATM- Changes PF Withdrawal Is Possible Now
EPFO has launched some unprecedented facility in 2025. Withdrawal of the money in your PF account is now possible using ATM. This plant should begin in May June 2025. This will enable over 7 crore of the EPFO members to withdraw money instantaneously. This is very helpful in emergency cases.
Easy PF Transfer Of An Alternate Job
Now it has become convenient to transfer PF account when one changes a job. With the new regulation, PF transfer does not have to go through the approval of the employer. This procedure has been turned into automated-time saving. The facility assists the account holders to manage the money without any frustration.
Process Changes In Joint Declaration Process
As of January 16, 2025, there is a re-issuance of a circular by EPFO on the process of joint declaration. The holders of UAN Aadhaar- linked accounts are now allowed to make joint declaration online. This has simplified updating the profile and conducting the KYC process. The alteration is particularly helpful to people who make mistakes in their reports.
The Digital Revolution EPFO 3.0
EPFO 3.0 platform will be launched in June 2025. It is a online project which will render PF accounts more user friendly. This will comprise such amenities as PF withdrawal through UPI and online KYC update. The members will have easy access to all information of their account using this platform.
Information On Cost And Fees
The services offered by EPFO are free of charge except that a small amount of money can be charged as a processing fee. Take an example, on the PF, there is no fee charged on PF withdrawal or transfer but it can attract some nominal transaction charges depending on the bank on ATM withdrawal. To get the correct information visit https://x.ai/grok.
So Why Should These Changes Occur?
These new regulations are a major step towards conversion of EPF to a modern and transparent organization. Members will have much more convenience than earlier using digital facilities and quicker actions. It ensures better security of your future.
Also Read: New EPFO Rules 2025: A Digital Overhaul of India’s Retirement System