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EPFO New Rules:The Employees’ Provident Fund Organization (EPFO) has made several important changes in the last 10 months, which directly impact the pocket of every employee. The aim of these new rules is not only to increase transparency but also to connect employees with digital and faster services. EPFO has now made the claim settlement process simpler and faster than before.

Apart from this, many updates have also been made in the services to UAN (Universal Account Number). These changes not only secure your future savings but also have a big impact on your financial planning. If you are unaware of these rules, your pocket may suffer damage. It is important for every salaried person to know these updates of EPFO, because they are directly linked to your PF account.

EPFO made the claim process easier

EPFO has now made the claim process completely digital for its members. Where earlier it used to take 15 to 20 days to settle claims, now this time has come down to 3 to 5 days. After submitting the claim online, the employee receives updates through SMS and email. Apart from this, EPFO ​​has also made mandatory biometric verification to prevent cases of fraud. With this new system, employees are getting instant access to their PF balance or withdrawal amount. This change is being considered as a step of great relief for the youth and the working class. With this initiative of EPFO, the problem of delay in claim settlement has now ended.

UAN and Aadhaar linking now completely necessary

Under the new rules of EPFO, it has now become mandatory for every member to link his UAN number with Aadhaar card and bank account. This process can now be completed online through e-KYC. Without Aadhaar linking, the claim process, passbook check or transfer process will not be completed.

This step has increased transparency and helped prevent fake accounts. EPFO has also clarified that the employer will be able to contribute to an employee’s account only after Aadhaar linking. This change ensures that the PF data of every employee remains secure and accurate. This linking of UAN (Universal Account Number) has now become the basis of every service of EPFO.

Big change in pension rules

In the last few months, EPFO ​​has also made many changes in the pension (EPS) rules. Now employees have been given the option of higher pension depending on their service period and salary. After the order of the Supreme Court, EPFO ​​has implemented the Higher Pension Scheme, under which members can deposit a large part of their salary in pension.

For this it is necessary to apply within a stipulated time limit. This change is especially beneficial for those employees who are near retirement. The new policy will significantly increase the amount received every month after retirement. This higher pension scheme of EPFO ​​is strengthening the retirement plans of many employees.

Improving digital services and security

EPFO has also improved security and usability in its portal and mobile app. Now members can check all the information to their account like passbook, claim status, and pension updates sitting at home through EPFO ​​Member e-Sewa Portal. Keeping cyber security in mind, OTP based verification has been added for login.

Additionally, the “Update KYC” section has also been simplified to correct mismatch details. This digital transformation has made EPFO ​​more transparent and user-friendly, so that employees can now have complete control over their retirement funds. EPFO Member e-Sewa Portal is now working better with UAN (Universal Account Number).