EPFO 3.0: UPI Withdrawals, New Portal & Faster Access for Employees

• EPFO 3.0 introduces a new user-friendly portal and reforms for its 8 crore members.
• Subscribers can soon withdraw EPF funds via UPI (BHIM app) for faster access for illness, education, marriage, and housing.
• Initial UPI withdrawals may be capped at Rs 25,000 per transaction to prevent misuse.
• The new portal will feature Bhashini-backed language translation tools for vernacular medium access.
• A centralized system will allow members to resolve issues at any regional office, benefiting employees who relocate.

Why It Matters: EPFO 3.0 brings significant reforms, including UPI withdrawals and a user-friendly portal, for faster, easier access to funds.