EPFO 3.0 to rollout soon, enabling ATM withdrawals: Union Minister Mansukh Mandaviya; check all benefits

Union Labour Minister Mansukh Mandaviya on Thursday announced that the Employees Provident Fund Organisation (EPFO) will launch the EPFO 3.0 version soon, allowing beneficiaries to withdraw funds directly from ATMs, among other features.

The minister, while speaking at the inauguration of EPFO's Office Complex of Telangana Zonal Office and Regional Office, said that the new version of the EPFO will be equivalent to a bank.

"In the coming days, the EPFO 3.0 version will come. This means EPFO will become equivalent to a bank. Like how transactions are carried out in a bank, you (EPFO subscribers) have your Universal Account Number (UAN) and you will be able to do all your work," a PTI report quoted Mandaviya as saying.

"Neither do you have to visit EPFO offices nor do you have to go to your employer. It is your money and you can withdraw it as and when you want. Now you still need to go to EPFO offices. I promise you, in the coming days, you can withdraw your money from ATMs whenever you want. We are carrying out such reforms in EPFO."

The minister also inaugurated a Regional Office in Naroda, Gujarat and laid the foundation stone of staff quarters in Haryana’s Gurugram. He said that under the leadership of Prime Minister Narendra Modi, EPFO is transforming, receiving fewer complaints and offering more services, adding that EPFO has now adopted a pro-people approach.

The EPFO platform is seeing rapid changes with many reform measures for the beneficiaries including fund transfer, claim transfer and corrections in name (of subscribers) and withdrawal of pension from any bank, among others, Mandaviya said.

EPFO 3.0 benefits

UAN activation