EPFO 3.0: TCS, Infosys, Wipro to Build Next-Gen PF Platform for Millions

Big changes are coming to how millions of Indians manage their Provident Fund (PF). The Employees’ Provident Fund Organisation (EPFO) is building a new digital system called EPFO 3.0, and it’s bringing in the country’s biggest tech companies—TCS, Infosys, and Wipro—to make it happen.

What’s Changing?

EPFO 3.0 promises to make PF services quicker, easier, and more user-friendly. Here’s what you can expect:

• Faster Claim Settlements: No more long waits—claims will be processed automatically.
• PF Withdrawals from ATMs: You might soon be able to withdraw your PF money just like cash from an ATM.
• Update Details from Home: Need to change your name or date of birth? You’ll be able to do it online—no need to visit an EPFO office.
• OTP-Based Verification: Say goodbye to paperwork. Changes will be verified using your mobile number.
• Pension Payments from Any Bank: Pensioners under the EPS 1995 scheme will get their money from any bank, anywhere in India.
• Better Complaint System: EPFO will use technology to solve member issues faster.

Who’s Building It?

To make this high-tech system a reality, EPFO has selected TCS, Infosys, and Wipro—India’s top three IT companies known for handling large government and corporate projects.

EPFO invited companies to show interest in June 2025. After reviewing their experience and capabilities, these three were shortlisted. The final contracts are yet to be awarded, but the groundwork has begun.

What It Means for You

This upgrade means less paperwork, fewer visits to EPFO offices, and faster access to your money and services. Whether you’re a salaried employee, a pensioner, or someone planning to withdraw PF, EPFO 3.0 is designed to make your life easier.

Employees' PF to Gratuity: How To Claim In Case of Death

The Employee Provident Fund (EPF) and Gratuity are two important components of an employee’s retirement benefits. In the event of an employee’s death, their family or beneficiaries can claim both the EPF and Gratuity amount. However, there are certain criteria that must be met for the claims to be processed.

EPF Claim in case of Death

The EPF balance consists of contributions made by the employee and employer. In the event of the employee’s death, the nominee or legal heir can claim the EPF balance along with the accumulated interest. The process of claim PF amount after the employee’s death is straightforward and can be done by following these steps:

Step 1: Inform the Employer

The first step is to inform the employee's employer about the unfortunate event. The employer must initiate the process of transferring the EPF balance to the nominee or legal heir.

Step 2: Submission of Required Documents

The nominee or legal heir must submit certain documents to initiate the claim process. These documents include:

• Death certificate of the employee
• Claim Form 20
• Claim Form 10D (For the Pension Scheme, if applicable)
• Nomination forms submitted by the employee (if any)
• Legal heir certificate or succession certificate

Step 3: Verification of Documents

The EPF office will verify the submitted documents and ensure that the claimant is the rightful nominee or legal heir.

Step 4: Settlement of Claim

After the verification process, the EPF amount will be settled and transferred to the nominee or legal heir's bank account. 

PF Claim Status

Claim status of the EPF can be checked online by visiting the EPFO portal. The portal provides two options to check the claim status – by entering the PF account number or the claim reference number. Once the pf claim status is processed, the same can be viewed online by logging into the EPFO portal.

Gratuity Claim in Case of Death

Gratuity is a benefit that an employee accrues after completing five years of continuous service with their employer. In the event of the employee's death, the nominee or legal heir can claim the gratuity amount. The process of claiming the gratuity amount after the employee's death is straightforward and can be done by following these steps:

Step 1: Inform the Employer

The first step is to inform the employee's employer about the employee's death. The employer must initiate the process of transferring the gratuity amount to the nominee or legal heir.

Step 2: Submission of Required Documents

The nominee or legal heir must submit certain documents to initiate the gratuity claim process. These documents include:

• Death certificate of the employee
• Claim Form I
• Legal heir certificate or succession certificate

Step 3: Verification of Documents

The employer will verify the submitted documents and ensure that the claimant is the rightful nominee or legal heir.

Step 4: Settlement of Claim

After the verification process, the gratuity amount will be settled and transferred to the nominee or legal heir's bank account.

Please note that both the EPF and gratuity claims may take some time to process. However, the claims will be settled as per the established timelines and rules.

In conclusion, the EPF and gratuity benefits are important for an employee's financial security and retirement planning. In the event of an employee's death, their family or beneficiaries can claim both the EPF and gratuity benefits. The claim process can be initiated by following the aforementioned steps and submitting the required documents. It is important to keep track of the claim status and ensure that all the necessary documents and information are provided to avoid any delays or rejections.

Disclaimer: Investors must gauge all the pros and cons of trading in the Indian financial market before making any investment decisions. This article is for informational purposes only and should not be construed as investment advice. The author and the website are not liable for any investment decisions made by the readers.

Summary:

The Employee Provident Fund (EPF) and Gratuity are two important components of an employee’s retirement benefits. After an employee's death, his/her family or beneficiaries can claim both the EPF and Gratuity amount. The article provides a step-by-step process of claiming the EPF and gratuity benefits in case of an employee’s death. The article also highlights the importance of keeping track of the claim status to avoid any delays or rejections. The article cautions investors to gauge all the pros and cons of trading in the Indian financial market before making any investment decisions.

Investment Planning 101: What Is EPF & How Does It Work?

A pension scheme is not just a fund for a rainy day during your retirement but provides the necessary support system to live a comfortable and respectable life after retirement. By not relying on anyone for personal expenses, retired individuals can continue living their lives as they did during their employment days. But everyone doesn’t have such pension plans from the employer. And most pure pension schemes are only meant for government employees. A worthy substitute for pension for private employees is Employees Provident Fund. 

If you are also looking forward to investing in EPF, you will get the basic knowledge here. Read on to know more about what is EPF, how it works, and how EPF contributions can create a huge corpus.

What Is EPF?

EPF of Employees Provident Fund is a national provident fund scheme introduced by the Indian government to benefit private sector employees. With this scheme, they can create a retirement fund for their future without going through much trouble. EPF is solely for employees working in an EPF registered organization with more than 20 employees.

If your employer doesn’t have EPF registration due to a lack of employees, you can voluntarily enrol in EPF. If any unemployed or self-employed person wishes to enrol in EPF, they cannot do so because of their employment status. However, they can join other provident fund schemes such as PPF, which is open to people with any employment status.

How Do EPF Contributions Work?

An employee in an EPF eligible company must have a basic pay of more than INR 15,000 to enrol in EPF. This limit is on the basic pay and not the entire salary. Your entire salary is the culmination of various components such as basic pay, professional tax, TDS, conveyance, dearness allowance, housing allowance, and various other special allowances and taxes.

After successful registration, the employer deducts a set percentage of just the basic pay every month. Now this percentage can be 10 or 12 based on the organization. The employer then contributes the deducted amount into the EPF account of the employee. The employer also contributes the same amount at their own expense into the same EPF account. So, if the employer deducts X from your basic pay, it deposits 2X into your account. By doing so, you instantly get double the benefit of your investment. But wait, there’s more.

EPF also has an interest rate of 8.1%. So the amount that accumulates in your EPF account increases further with such high interest rates. This EPF account remains the same for a person even if they change employers and remains active till the retirement age of 58. And they can withdraw the entire sum accumulated over their employment years.

EPF Returns And Benefits

Now that you understand what is EPF, you must also know its specific returns and benefits to the employee. This will help you understand its value as a great investment scheme. Given below are some returns and benefits that an EPF account provides.

• High Interest Rate
• Partial Withdrawal
• Loan Facility
• Safe Invested Capital
• Assured Returns
• Steady Capital Growth
• Market-Independent Capital And Interest

Right Time To Invest In EPF

Any investment with such a high return rate as EPF will have the right time to invest. But fortunately, EPF doesn’t have such criteria. No matter when you join, the return rates are always high. But as seen in the past, EPF interest rates are decreasing over the years. So it would be better to invest in it as early as possible.

Young employees at the beginning of their careers also face the dilemma as to whether to choose EPF or not. However, EPF is a highly efficient investment scheme, and as you don’t have many financial obligations when you are young, the EPF contributions won’t matter much. So you can invest in EPF and still have money for other requirements.

Also, the deduction is not of your entire salary; it is just 10 or 12% of your basic pay. So you won’t notice a lot of difference. But when you invest money with such discipline, almost similar to a SIP, you can accumulate a huge corpus by the end of your career. And you can use the corpus for other important personal or family requirements.

EPF is a great backup plan which already has double the investment and with an added benefit of high interest rates. By investing in EPF, you can get liquidity whenever you.

Labour Ministry Allows EPF Withdrawal Amid Lockdown

The labour ministry has allowed over 6 crore subscribes of retirement fund body EPFO to withdraw an amount not exceeding their three months basic pay and dearness allowance from their EPF account in view of the lockdown to fight COVID-19.

Besides, Employees' Provident Fund Organisation (EPFO) also introduced online claim settlement facility without manual intervention on Saturday morning for all KYC complaint subscribers during the lockdown.

The ministry has issued a notification in this regard on March 28, 2020 to amend the Employees' Provident Fund Scheme 1952, a labour ministry statement said.

The decision is taken in view of lockdown across the country to fight COVID-19.

The notification permitted non-refundable withdrawal not exceeding the basic wages and dearness allowance for three months or up to 75 per cent of the amount standing to the credit of their EPF account, which ever is less, the ministry said.

The COVID-19 has been declared pandemic and therefore employees working in establishments and factories across entire India, who are members of the EPF Scheme, 1952 are eligible for the benefits of non-refundable advance.

A sub-para (3) under para 68L has been inserted in the EPF scheme, 1952.

The amended Employees Provident Fund (Amendment) scheme, 2020 has come into force from March 28.

Following the notification, EPFO has issued directions to its field offices for promptly processing any applications received from members to help them fight the situation.

In its communication, EPFO has stated that officers and staff must process claims of EPF subscribers promptly so that relief reaches the worker and his family to help them fight with COVID-19.

"We are happy to inform that our online claim filing facility for Covid-19 withdrawals has been successfully launched at 11 am today (Saturday). IT (information technology) division of the EPFO has devised a system of auto settlement of claims through our centralized server in respect of all such members whose KYC (know your customer) data is fully updated and compliant.

"It is going to be a paradigm shift in claim settlements that will be possible to settle within 3 days. This facility will stop manual intervention. The EPF claims will be settled fully online," an official said.

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