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EPFO Update: New update from EPFO, now you don't have to go to HR for this work..

Shikha Saxena | January 17, 2025 6:15 PM CST

There is big news for the subscribers of the Employee Provident Fund. Now employees will not have to go to HR to get KYC related to PF. The Employees Provident Fund Commission will implement a new rule in June 2025, through which employees will be able to do self-attestation themselves. After the start of this process, employees will not have to get approval from the company for KYC.

KYC through self-attestation

KYC for PF accounts of employees is a one-time process, which helps in verification while linking with a Universal Account Number. For this, employees still have to get approval from the company. But now with the new rule of EPFO, people will not have to visit the company for KYC. Many times when companies are closed. In the meantime, KYC gets stuck and due to this many PF claims get stuck due to lack of KYC. This rule will come in EPFO 3.0 from June 2025.

EPFO 3.0 Scheme

EPFO 3.0 will be launched this year, in which the promotion of IT and infrastructure is the main focus. It will also include employment-linked schemes. With the launch of this scheme, the workload of EPFO will be reduced and it will also be easy to manage all the accounts. It is estimated that after the launch of EPFO 3.0, the number of its subscribers will also increase, which is currently around 8 crores. They will become close to 10 crores.

Withdrawal of funds will also be easy.

With the launch of EPFO 3.0, people will get many facilities. The first of these will be the facility of self-attestation. Under EPFO 3.0, such a facility can be launched in collaboration with banks, from which EPF subscribers will be able to withdraw money directly from the bank up to a fixed limit. For this, they will not need any kind of application. Regarding EPFO, the Labor Minister of the country Mansukh Mandaviya said that now people will be able to withdraw their hard-earned money easily through EPFO.

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