Modi 3.0 Government / Government's master plan on EPFO ​​is going to change the lives of crores of people

Modi 3.0 Government: Union Labor and Employment Minister Mansukh Mandaviya has recently announced that the Employees Provident Fund Organization (EPFO) is moving towards a major digital transformation. This change will not only be technologically advanced, but will also completely change the experience of more than 9 crore EPFO ​​​​beneficiaries. The main objective of this digital transformation is to make the services fast, transparent and user-friendly.

EPFO ​​version 3.0: New beginning in the digital age

Mandaviya said that version 3.0 of EPFO ​​​​will be launched by May or June 2025. With the help of this new version, claim processing will be accelerated and beneficiaries will be able to withdraw funds directly through ATM. This will eliminate the need to fill long forms or visit the office.

Auto-claim and OTP verification from IT platform

The new version will be based on a strong IT platform, which will promote auto-claim settlement, OTP verification and digital reforms. Beneficiaries will be able to update their EPFO ​​account information, monitor pension related information, and transfer funds easily.

27 lakh crore fund and expansion of social security

The minister said that EPFO ​​has a sovereign guarantee fund of Rs 27 lakh crore, which gives 8.25% interest. Apart from this, the government is also working on a plan to link Atal Pension Yojana, Pradhan Mantri Jeevan Bima Yojana and Shramik Jan Dhan Yojana with EPFO, so that social security coverage can be broadened and strengthened.

Revolutionary reforms in health services too

Workers coming under ESIC (Employees State Insurance Corporation) will soon get free treatment in hospitals listed under Ayushman Bharat Yojana. Along with this, private charity hospitals will also be included in this scheme. Currently ESIC is providing free health care to about 18 crore people through 165 hospitals and more than 2,000 listed hospitals.

Gig and platform workers will get protection shield

The social security of gig and platform workers is also a priority of the government. Taking a major initiative in this direction, the ministry has recently signed an MoU with Swiggy. It aims to promote employment opportunities in the gig and logistics sector through the National Career Service (NCS) portal. This initiative will generate more than 12 lakh jobs in the next 2-3 years.

Success of EPFO ​​2.01 and new expectations from 3.0

EPFO has made significant improvements in the Grievance Redressal system after the launch of its version 2.01. The number of complaints has been reduced by more than half. With version 3.0, EPFO ​​is aiming to bring accessibility, transparency and efficiency in processing.