New Delhi. It is not a matter of such a matter that it is difficult to make EPF money. This work looks like impossible for many people. But soon this work is going to be easy. The Labor Menostry, that is, the Ministry of Labor, can soon apply such a regia, under which you will be able to pay EPF money through ATM card or UPI.
How do EPF money now
Now, if you want to withdraw your EPF money, you have to file online or offline claim. This process can take time. Although the EPFO has an auto-settlement system in which the claims are cleared within three days, you still have to submit the claim.
What is the need of this change?
EPFO, which has more than 7 crore members, started online auto-settlement facility to help members in financial needs during Covid-19. Nevertheless, people have to file claims to get their EPF. The aim of the new scheme is to remove this process and reduce the burden of EPFO, as it handles more than 5 crore Vidhalaval Registics every year.
Right now, the process of money for EPF is quite tight. Liad, people find themselves unable to pay their own money when needed. Due to the frequent people coming on this, the government is thinking about bringing a new system. EPFO members will be able to get their claimed amount directly in their digital wallet in their digital wallet. If this happens, it will be easier and fastened by PF money.
