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The Employee Provident Fund Organisation (EPFO) is planning to upgrade to the latest version called EPFO 3.0. Features like withdrawing provident fund (PF) money from ATMs, contributing over the present 12 per cent cap, and converting PF savings into a pension will be included, ET Now reported.The labor ministry plans to issue a card for PF withdrawals, which may be made through ATMs, which is the most important feature.However, the amount which can be taken out will have a cap of 50 per cent on the overall deposit.This feature might be implemented between May and June in 2025.Another development is that the government may remove the current 12 per cent limit on contributions, giving employees the choice to contribute according to their will.However, since the employer's contribution will be set depending on the employee's pay, the employer won't be burdened.The government also intends to convert this amount into a pension upon the employee’s approval, as per the report.Additionally, the central government could raise the Employees' Provident Fund (EPF) scheme's salary cap, which would take effect ten years after it was previously raised.The newly elected Modi government increased the EPF scheme limit from Rs 6500 to Rs 15,000 earlier in September 2024. However, discussions about all of these features and changes in policy are still in very early phases.