EPFO New Rules 2025: Major improvements have been announced by the Employees’ Provident Fund Organization (EPFO) in the course of 2025. These improvements were meant to revolutionize and make easier the process of EPF. They also improve the visibility of the process and making it easier for members to access more of such service facilities. Here, we shall look at some of these main changes in detail.
PF Withdrawal Through ATM
So far, EPFO has planned direct ATM withdrawals facility to make it possible for its members to withdrawal through the bank’s ATM of the PF ac-cumulative fund. Previously, members had to wait for about 7-10 days to settle their claim before money could find its way into their bank accounts. ATM cards will be issued for members, who will now be able to withdraw funds from their PF account at any time and just about anywhere. Thus, instant availability of money will come with little human intervention.
Centralized Pension Payment System (CPPS)
As of January 1, 2025, the EPFO has brought into force the Centralized Pension Payment System (CPPS). Through this, 7.8 million member of Employees’ Pension Scheme will be able to draw their pension from any bank branch throughout the country. This provision will give more flexibility and convenience to pensioners, especially for those who have relocated to their home town away from their workplace.
Deadline For Higher Salary Pension Application From EPFO
The EPFO has now given the last deadline to employers up to January 31, 2025 to upload any pension applications that still remain pending with respect to higher salaries. Also, they have been asked to update any of the incomplete and additional information in over 4.66 lakh cases by the 15th of January, 2025. The benefit of this would be that the eligible employees would receive their pensions on time and with complete information.
Possible Change In EPF Contribution Limit
Employees make a 12% contribution of their basic salary toward EPF, with a ceiling of Rs 15,000. Presently, eliminations from the ceiling and facility of contributions of actual salary are under consideration with the government. If this change is implemented, the retirement savings of employees will increase and will secure their more financially independent future by such increase.
Increase In Equity Investment
For uplifted returns value wise EPFO plans to increase its investment share and other assets. This indeed is expected to give better returns in terms of the funds of an employee, thus strengthening his financial position after retirement.
These changes were to make it more convenient for members of the EPFO. Any employee or pensioner is encouraged to be aware of the rules mentioned above and make appropriate changes in their financial planning as necessary.
Conclusion
EPFO New Rule 2025 is a giant leap by the EPFO toward its employees. This rule will protect their futures in any possibility and boost the financial security of the employees. This initiative by EPFO will benefit millions and uplift their lifestyles.
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