6 hrs ago

EPFO Promotes Official WhatsApp Channel for Member Updates

EPFO is the organisation that manages many workers’ retirement savings.

It has asked members to follow its official WhatsApp channel.

The channel shares news and explains how different EPF services work.

It includes information about taking an advance, adding money after returning to a job and a government employment scheme.

Members can also find videos and use the EPFO website for claims, withdrawals and pension services.

EPFO had earlier planned a WhatsApp service where members could send a message to a verified number.

The organisation has also grouped withdrawal rules into three broad categories and lowered the minimum service requirement to 12 months.

Some eligible claims can now be processed automatically, with the maximum amount increased to ₹5 lakh.

Key facts

Official channel: EPFO’s verified WhatsApp channel shares organisational updates, service information and educational material.
Topics covered: EPF advance withdrawals, contributions after returning to employment and payments under Pradhan Mantri Viksit Bharat Rozgar Yojana.
Withdrawal categories: Essential Needs, Housing Needs and Special Circumstances.
Minimum service requirement: The revised withdrawal framework lowers the minimum service requirement to 12 months.
Retirement balance: The revised framework is intended to ensure that 25% of the PF balance remains invested for retirement.
Auto-settlement limit: The maximum amount eligible for auto-settlement increased from ₹1 lakh to ₹5 lakh.
Processing time: Eligible claims can be settled electronically, with members receiving the withdrawn amount within three days after processing.

CNBC TV 18 · 6 hrs ago