Top Changes In EPFO In 2025: ATM Withdrawal, Pension Applications... - List

Changes In EPFO: The Employees' Provident Fund Organisation (EPFO) has announced a series of updates for 2025 that will affect millions of subscribers, both in public and private sectors. These changes are expected to streamline the retirement fund process and offer better convenience for members.

Claim settlements via e-wallets

EPFO and ESIC subscribers will soon have the option to receive their claim settlements directly into e-wallets. The Ministry of Labour and Employment is in talks with banking institutions and the Reserve Bank of India to finalise the mechanism for this transition. This initiative aims to make claiming funds  quicker by eliminating the need for traditional banking procedures.

Deadline extended for employers to upload pension applications

Employers now have a final opportunity to submit pending pension applications to EPFO. The deadline has been extended to January 31, 2025, with the deadline for updating any incomplete pension details set for January 15, 2025. This extension will resolve issues in over 4.66 lakh cases related to higher wages.

Direct PF withdrawals via ATM cards

EPFO members will soon be able to withdraw their Provident Fund (PF) balances directly from ATMs once their claim settlements are processed. After the usual 7-10 day settlement period, the funds will be accessible via dedicated ATM cards. This will provide EPFO members with quicker access to their funds, and reduce the waiting time and eliminate unnecessary human intervention.

The Ministry of Labour and Employment is focused on improving the EPFO claim process, with plans to make these services faster and more efficient