The Employees' Provident Fund Organisation (EPFO) is preparing to launch its next wave of reforms, branded EPFO 3.0. It's aimed at a complete overhaul of the digital platforms of the retirement fund body and expansion of the services to both organised and unorganised sector workers.
The upgrades, to be launched soon, will include a new portal, advanced backend software and AI-driven language translation tools to provide information in regional languages, The Indian Express reported, citing a senior government official.
Core Banking To Streamline Operations
EPFO 3.0 is expected to feature a complete revamp of the retirement fund body's technology framework, moving towards a core banking solution. This will create a centralised system similar to those used by banks, allowing members to resolve issues at any EPFO centre nationwide.
EPFO plans a complete revamp with a new technology architecture and a core banking system at the backend, enabling it to handle both organised and unorganised workers at scale. The system will be designed to manage increasing volumes, with the portal and overall operations completely upgraded, the official told The Indian Express.
The pension fund body currently serves nearly eight crore active members and manages a corpus of around Rs 28 lakh crore. It is also expected to take over the administration of funds for unorganised workers, separate from the social security fund for gig and platform workers.
Language Access And Digital Expansion
As part of the revamp, EPFO plans to make extensive use of AI-powered language translation tools to communicate with members in their local languages. The organisation reportedly plans to expand the use of vernacular tools such as Bhashini, an AI-powered platform developed by the Ministry of Electronics and Information Technology, to provide information in multiple regional languages, the report said.
UPI Withdrawals And Simplified Rules
The rollout of a UPI-linked withdrawal facility through the BHIM app is part of EPFO's ongoing reforms under EPFO 2.0, now in its final stages. Members will be able to view their total balance along with the portion eligible for withdrawal, with internal discussions suggesting an initial cap of Rs 25,000 per transaction.
In September 2025, EPFO launched a revamped electronic challan cum return (ECR) along with an internal user management module for task allocation. Only three modules remain: pension, claims and overall annual accounts. The official said that work on them is expected to be completed within one to two months.
Additionally, EPFO has simplified the self-correction of member details, allowing updates to personal information without requiring employer verification.
Watch LIVE TV, Get Stock Market Updates, Top Business, IPO and Latest News on NDTV Profit.