A very good news is waiting for PF Account holders. EPFO has a vast number of members connected to its services, and it is gearing up to introduce a range of new schemes for its subscribers. It’s essential for all members to stay informed about these developments. Recently, EPFO has implemented some changes aimed at benefiting provident fund holders, with expectations that these new regulations will take effect in January 2025.
EPFO New Rules 2025
As mentioned earlier, the EPFO has revised its rules with the primary goal of enhancing the benefits available to PF account holders, ensuring they can access their funds more effectively.
1. Withdraw PF Money from ATMs
EPFO has announced an exciting new feature that will allow subscribers to withdraw their provident fund money directly from ATMs, starting in January 2025. A special card will be issued to members, enabling them to access their funds conveniently through ATMs.
2. Changes in Employee Contribution Limits
Currently, employees contribute around 12% of their salary to their EPF accounts each month. However, the government is contemplating an increase in this contribution limit, allowing employees to contribute more than the standard 12%.
3. Upgrading EPFO’s IT System
To improve services for PF applicants and members, EPFO is enhancing its IT infrastructure. This upgrade aims to streamline processes and is expected to be completed by June 2025.
4. Investment Opportunities
EPFO is also exploring options to provide investment facilities for its members, giving PF account holders better opportunities to manage and grow their funds.
5. Simplifying Pension Access
Significant changes are also anticipated in the pension process, aimed at making it easier for members to access their benefits.
