No More EPFO Paperwork: Digital Claims & OTP Updates Soon

The Employees' Provident Fund Organisation (EPFO) is set to introduce significant upgrades under its Version 3.0 platform. These expected changes are aimed at simplifying user experience, streamlining fund access, and integrating broader welfare initiatives. Although no official launch date has been confirmed, insights from Union Minister Mansukh Mandaviya and Labour Secretary Sumita Dawra suggest a transformative overhaul is imminent.

1. Paperless Claim Settlements and Corrections

EPFO is likely to do away with traditional paperwork and in-person visits by introducing an end-to-end digital claim process. This change is expected to significantly speed up settlements and corrections, offering users faster access to their benefits.

2. OTP-Based Account and Mandate Updates

Account holders may soon be allowed to update details using OTP-based authentication. This feature will let users modify account mandates, access pension records, and initiate withdrawals without physically visiting EPFO offices.

3. Unifying Social Security Platforms

Plans are underway to integrate multiple central schemes like Atal Pension Yojana, Pradhan Mantri Jeevan Bima Yojana, and Shramik Jan Dhan Yojana with the EPFO framework. ESIC beneficiaries may also gain access to Ayushman Bharat-linked medical services.

4. Charity Hospitals Under ESIC Expansion

The ESIC network might include designated charitable hospitals to widen healthcare access. Presently, over 18 crore people are covered under ESIC via its 165 hospitals, 1,500+ dispensaries, and nearly 2,000 partner hospitals.

5. PF Withdrawals via UPI and ATM

A major feature in the pipeline is the ability to withdraw provident fund amounts through UPI and ATM services. With NPCI's recommendation approved, withdrawals could be enabled by June-end. This digital method could later extend to GPF and PPF schemes as well.