The employees' Provident Fund employer (EPFO) is gearing up for a primary era improve that guarantees to transform how thousands and thousands of individuals get right of entry to their provident fund and pension services.
Under the approaching EPFO three.zero platform, 3 of India's largest IT giants - Tata Consultancy offerings (TCS), Infosys, and wipro - were shortlisted to enforce, perform, and keep the system.
How the choice system commenced
EPFO released the choice process on june 16, 2025, issuing an Expression of interest (EOI) to perceive a employer able to coping with its IT platform for multiple social protection schemes. After evaluating submissions, EPFO observed that Infosys restricted, tcs confined, and wipro constrained met all technical and operational requirements.
In a round released on august 12, 2025, EPFO confirmed their shortlist however clarified that this is an administrative step and does no longer provide any prison or contractual rights but. The shortlisted companies will now flow to the subsequent section of the procurement manner.
What EPFO 3.0 Will offer contributors
The EPFO 3.zero platform objectives to provide a modern, superior IT infrastructure, delivering quicker, easier, and greater comfortable offerings to members, pensioners, and employers. The upgrade will introduce several splendid capabilities:
Computerized declare agreement:
Claims might be processed routinely without guide intervention, significantly dashing up settlement times and enhancing efficiency.
ATM-based Withdrawals:
Members should soon withdraw their PF price range from atms, much like how bank withdrawals work, following declare agreement.
Absolutely virtual Account Updates:
Contributors may be capable of update their account details online, with the procedure completed digitally with out lengthy paperwork.
OTP-primarily based Authentication:
Changes to account info could be verified thru OTP, casting off time-consuming form submissions.
Pension price and complaint Redressal enhancements
EPFO three.zero can even encompass a Centralised Pension price device. This can allow EPS 1995 pensioners to acquire their pension from any financial institution throughout the us of a, doing away with existing banking restrictions.
Moreover, EPFO plans to reinforce its grievance redressal mechanism, making sure that member proceedings are resolved greater speedy and correctly.
Why the upgrade subjects
With over 277 million EPFO individuals and a growing demand for quicker, more transparent services, the new platform is predicted to mark a good sized shift in India's social safety infrastructure. Virtual automation, actual-time processing, and nationwide get admission to to price range are probably to substantially beautify member comfort.
Industry professionals consider that integrating modern IT solutions with EPFO's operations will not most effective lessen processing delays but additionally reduce down on fraudulent claims and errors. This could improve agree with and operational transparency, reaping benefits both individuals and pensioners.
The street beforehand
At the same time as EPFO has now not provided a hard and fast launch date for EPFO 3.zero, the shortlisting of India's pinnacle 3 IT carrier providers marks a key milestone in the mission's development. Once the implementation associate is chosen, development and rollout are predicted to begin in levels.
For contributors, the message is apparent: EPFO 3.0 guarantees quicker claims, less complicated withdrawals, and virtual-first services - a jump ahead in making India's biggest social protection body extra accessible and efficient.
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