News for Employees: EPFO Modifications in 2025. Actually, Employees’ Provident Fund Organization (EPFO) has put forward many changes to be implemented in the year 2025 for facilitating the salaried section. Under such conditions, let us know from the following news what rules related to the EPFO are expected to be changed during the year 2025.
Therefore, it is expected that significant changes will take place in 2025. The Employees Provident Fund Organization (EPFO) is not only going to make withdrawal provisions easier but will also help safeguard the financial position of employees. Under the fresh policies, there seems to be flexibility and better management in the fast withdrawal process.
PF money will be withdrawn from ATM-
According to media reports, the Employees Provident Fund Organization (EPFO) is working out on the introduction of a new ATM card, through which employees can withdraw money from their EPF account anytime. This facility might come into effect from next year. Under the new rule, the overall process of withdrawing money would be simple and quick, which will help the employed persons a lot in times of emergencies.
Till now, an individual was allowed to contribute towards EPDF they earned only if the basic salary was above Rs. 15,000, however, now the government is thinking about a new scheme under which any employee would be able to contribute towards EPF according to his total salary. This will help the employee in increasing savings. For example, if an employee’s
Thus, a person earning a basic salary of Rs 1 lakh every month would be able to deposit Rs 24,000 under EPF, which would include his contribution and that of the employer.
There is going to be an investment shift-
EPFO is now planning for part reinvestment from its concluded profit earned through ETF in stock and other investments, so as to draw increased interest from EPF of the employees for that purpose. Accompanied by this within the Centralized Pension Payment System consented during September 2024 will benefit 78 lakh EPF pensioners, who are stated to draw their pensions from any bank and not just the designated branch. Earlier, it was compulsory for a pensioner to visit the said particular bank from where the pension was disbursed. While under the current system, it will give the pensions the freedom to withdraw their pensions from anywhere in the country.
Deadline Higher Pension:
EPFO has given directives to all its companies to upload salary information about employees by January 31, 2025, through the portal. If extra details are required, this should be performed by January 15, 2025. This will help in speedier dispensing of higher pension applications, according to EPFO. It is believed that doing this will be in the best interest of employees concerning delivering benefits related to pensions. All companies need to be compliant with such directives.
