The Employees’ Provident Fund Organisation (EPFO) is gearing up for a major overhaul called EPFO 3.0, aimed at making retirement fund services faster, more accessible, and more modern.
This transformation will affect crores of members, introducing a new portal, updated backend software, and AI-powered language tools to communicate in regional languages.
According to a government official, this upgrade is a complete revamp of EPFO’s technology, similar to a core banking system used by banks, making it easier to manage large volumes of accounts and serve both organised and unorganised sector workers.
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What EPFO 3.0 Means for Members
With EPFO 3.0, members can expect centralised services, allowing grievances or service requests to be addressed from any EPFO office in India, regardless of where the account is registered.
The system will also use AI-powered translation tools, such as Bhashini, to communicate in local languages, improving accessibility for members across the country.
Currently, EPFO manages around 8 crore active members with a total corpus of ₹28 lakh crore, making a core banking system essential for smooth operations in the future.
New IT Platform and Implementation
EPFO is finalising a tender to appoint an agency that will implement, operate, and maintain the new IT platform.
Earlier, top tech firms like Wipro, Infosys, and TCS were shortlisted for the project.
The upgrade will manage various social security schemes efficiently and prepare EPFO to cover not just organised employees but also unorganised workers and gig economy workers in the coming years.
EPFO 2.0 and UPI-Based Withdrawals
While EPFO 3.0 is being planned, the ongoing EPFO 2.0 reforms are almost complete.
A UPI-linked EPF withdrawal facility is expected by April.
Members will be able to:
Check total EPF balance and eligible withdrawal amount
Withdraw up to ₹25,000 per transaction initially
Maintain a mandatory 25% minimum balance
Withdraw funds for essential needs, housing, or special circumstances
Additionally, EPFO has simplified profile corrections, allowing members to update personal details like name, date of birth, gender, and marital status without employer verification.
In 2025 alone, over 32 lakh profile corrections were completed.
Why This Matters
EPFO 3.0 aims to make provident fund services:
More bank-like with centralised operations
Language-inclusive for easier communication
Faster and scalable for future growth
This upgrade is expected to benefit millions of existing members and extend social security coverage to unorganised and gig workers, marking a major step forward in India’s retirement fund system.