New Delhi
If you are also a private sector employee and your money is deposited in your PF account every month, then there is a possibility of many big changes in the new year i.e. 2025. The Employees’ Provident Fund Organization (EPFO) is going to undergo several important changes in the year 2025, which will impact millions of salaried employees across India. These changes aim 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 more secure retirement for the future. Here information is being given about some such changes, which may 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, from which members will be able to withdraw money round the clock. This is part of a significant change in services for members. It is anticipated that this ATM withdrawal service 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. At present, employees deposit 12% of their basic salary in the EPF account every month. However, instead of using the Rs 15,000 fixed by 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 the ETF income in shares and other assets to enhance returns. It can be implemented anytime during the new financial year.
Pension from any bank branch
In September 2024, Union Minister Mansukh Mandaviya had approved the Centralized Pension Payment System (CPPS). Under which 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
Employees Provident Fund Organization (EPFO) has given the last chance to employers to upload the salary details of employees till January 31, 2025. Additionally, employers are required to provide the clarifications requested by EPFO by January 15, 2025, to process the higher pension application.
