The Employees’ Provident Fund Organisation (EPFO) is going to undergo several important changes in the year 2025, which will affect millions of salaried employees across India. These changes aim to enhance the experience, streamline processes and improve employee-employer transparency.
If you are also a private sector employee and every month your money is deposited in the PF account, then many big changes are likely to happen in the new year i.e. 2025. The Employees Provident Fund Organization (EPFO) is going to undergo many important changes in the year 2025, which will affect millions of salaried employees across India. The goal of these changes is to enhance the experience, streamline processes and improve employee-employer transparency.
These changes are expected to have a significant impact on the financial security of millions of Indian employees. This will ensure a stronger and safer retirement for the future. Here is information about some such changes, which can be implemented in the year 2025. Let us know one important thing about them.
PF money from ATM
According to the report, EPFO will issue an ATM card, which will allow members to withdraw money round the clock. This is part of a significant change in services for members. It is expected that this service of ATM withdrawal will be implemented during the next financial year.
Employee contribution limit
According to the report, the limit on EPF contribution of employees will be abolished. Currently, employees deposit 12% of their basic salary in the EPF account every month. However, instead of using the Rs 15,000 fixed by the EPFO, the government is considering letting employees contribute as per their actual salary.
Increasing equity limit
According to some reports, EPFO is considering reinvesting a part of ETF income in shares and other assets to enhance returns. This can be implemented anytime during the new financial year.
Pension from any bank branch
In September 2024, Labour Minister Mansukh Mandaviya approved the Centralised Pension Payment System (CPPS). Under this, 7.8 million members can get pension under the Employees’ Pension Scheme from any bank branch. This rule will come into effect from January 1, 2025.
Higher Pension Deadline
The Employees’ Provident Fund Organisation (EPFO) has given employers the last chance to upload salary details of employees by January 31, 2025. Apart from this, employers are required to provide the clarifications requested by the EPFO by January 15, 2025 to process the higher pension application.
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