EPFO 3.0 Launching In March 2025 To Have Digitalised Grievance Redressal System

EPFO 3.0, which will be launched in March next year, will be focused on providing easier access to funds and improving the grievance redressal system.

"The people can access their money easily. There are processes that are being done on the digital platform to make it more accessible, to allow members to check and rectify any issue with the amount in their account," said Mansukh Mandaviya, Minister of Labour and Employment.

There have been reports that have hinted at facilities that will allow members to withdraw their corpus with ATM-like cards. The execution or method of facilitation has not been clarified yet.

"There will be a bank-level EPFO redressal system that will be part of EPFO 3.0, which will be launched in March 2025. Progress is happening, and 50% of complaints have been resolved," he said.

There has been a shift in focus of goals for this version, as it aims to provide easier access and more online provisions. The upgrade aims to allow members to be able to check the status of their account.

This facility is said to be made available for use from January 2025, ANI reported on Wednesday, quoting Labour Secretary Sumita Dawra.

"We are settling claims quickly and are working to make the process easier to improve the ease of living. A claimant, beneficiary, or insured person will be able to access their claims conveniently through ATMs, with minimal human intervention," ANI reported, quoting Dawra as saying in an interview to the news agency.

There is a technological revamp that has been promised as the existing system may bring down people's accessibility to their own money, according to Mandaviya. Addressing the urgent needs that may arise, the easier access will help members take out funds.