Union Labor and Employment Minister Mansukh Mandaviya on Friday said that the Employees Provident Fund Organization (EPFO) is going to undergo a major digital transformation to improve services for over 9 crore beneficiaries, with version 3.0 scheduled to be launched by May or June. Mandaviya said in an interview that in the coming days, EPFO ​​beneficiaries will be able to withdraw funds from ATMs due to faster processing of claims on the new version 3.0. He said that EPFO ​​will soon implement version 3.0 with the help of a strong IT platform to provide seamless and simplified services including auto-claim settlement, digital correction, and fund withdrawal from ATMs. This change aims to make EPFO ​​accessible and efficient.

Many facilities will be available in the new version.
According to Mandaviya, the new version will eliminate the process of filling complex and long forms or the need to visit the EPFO ​​​​office for claims and corrections. Beneficiaries will be able to update their EPFO ​​accounts and mandates using OTP verification and easily monitor their pension rights or withdraw funds. He said that due to faster settlement of claims, the amount will be available in the subscriber's bank account soon. He said that EPFO ​​​​currently has a fund of Rs 27 lakh crore with a sovereign guarantee and it gets 8.25 percent interest. The minister said that the government is also considering the integration of various social security schemes including Atal Pension Yojana, Pradhan Mantri Jeevan Bima Yojana, and Shramik Jan Dhan Yojana to streamline and strengthen pension coverage.

Ayushman Bharat Yojana will be available

To increase access to healthcare for workers, Mandaviya said that beneficiaries under the Employees' State Insurance Corporation (ESIC) will soon be able to get free medical treatment in hospitals listed under the Ayushman Bharat scheme. Apart from this, private hospitals run by designated charities will also be brought under its purview to expand social security coverage. Currently, ESIC provides free treatment to about 18 crore people through 165 hospitals, over 1,500 dispensaries, and about 2,000 listed hospitals.

Gig and platform workers will get safety.
The minister also highlighted efforts to provide social security to gig and platform workers, saying their current number is over one crore and is expected to double in the next five years. As part of this initiative, the Ministry of Labor and Employment signed an MoU with food delivery platform Swiggy on April 15 to integrate gig and logistics employment opportunities with the National Career Service (NCS) portal. The partnership aims to create over 12 lakh employment opportunities in the next two to three years. Swiggy will list its delivery, logistics and support roles on the NCS portal, helping more workers access employment opportunities.

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