EPFO: Many significant changes are going to happen by 2025 for more than 7 crore members associated with EPFO (Employee Provident Fund Organization) in the country, including employees working in most private companies. The main purpose of these changes is to make processes easier, increase transparency, and strengthen members digitally. These reforms will make the use of EPFO even more convenient for employees. So let’s know about the five most important changes to be held by 2025.
1. Now it will be easy to update profiles
Now EPFO has made it easier to update profiles. If your UAN (Universal Account Number) is linked to Aadhaar, then you can change your name, date of birth, gender, nationality, parents’ name, marital status, and spouse without any document. This change is going to give relief to those who lack documents. However, some employees with UAN made before 1 October 2017 may have to get approval from their company to permission.
2. PF will be transferred in flying mode as soon as the office changes
Earlier PF transfer requires long process and company approval. But from 15 January 2025, this process has become quite easy. Now you will not have to get permission from the old or new company, so that the PF money will be easily transferred to the new account. This will benefit especially those employees who keep changing their jobs again and again.
3. Do joint declaration sitting at home
Since 16 January 2025, EPFO has fully digitally digitally digitally digitized the UAN and joint announcement process. If your UAN is linked to Aadhaar or is already verified, then you can now fill the joint declaration online sitting at home. This change is beneficial for those who travel more or do not get time to go to office. If you do not have a UAN, or the Aadhaar link, you have to fill the physical form.
4. PF money will come in any bank account
From 1 January 2025, EPFO has launched the Centralized Pension Payment System. Now your PF money can be transferred to any bank account through NPCI (National Payments Corporation of India) platform. Earlier this process was quite complex and many times the transfer was delayed. Now this process will be completely digital and pension will be directly linked to UAN.
5. New rule on pension
Now EPFO has made the pension related process clean and transparent. If you want pension on more than your salary, then you have to contribute to your PF. In addition, companies that do not come under the EPFO and run their own scheme will apply the same rules. The process of payment and recovery of the outstanding amount has now become easier and trackable.
EPFO no longer an account
Today EPFO is no longer the way to deposit one money, but it has now become a digital facility. Due to new changes, many tasks have become easier and intensified to employees. Transparency in the process related to EPFO is now further accelerated. Now many facilities will be available for employees and pensioners on one click, so that they will not have any problem in their pension and PF related work. By 2025, further improvement is expected, which will make the EPFO even better.
conclusion
EPFO has now become even more smart and convenient for employees. These reforms have not only intensified the procedures, but the employees are getting more convenience through digital empowerment. If you are connected to EPFO, then these changes will give you great relief.
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