Hyderabad: Union Minister for Labour and Employment Mansukh Mandaviya on Thursday, March 6, inaugurated the new Employees’ Provident Fund Organisation (EPFO) Regional Office in Begumpet, Hyderabad.
Mandaviya described the facility as a ‘temple’ for employees, emphasizing efficient resolution of their concerns. He highlighted ongoing reforms, including an 8.5% interest rate for EPFO account-holders and digital processes for tasks like name changes.
Mandaviya also announced the upcoming ‘EPFO 3.0’, which aims to transform EPFO into a bank-like institution, allowing users to withdraw provident funds from ATMs without visiting an EPFO office.
Additionally, he noted that EPFO account-holders can now claim their funds from any branch.
Union minister G Kishan Reddy mentioned the separation of EPFO offices for Telangana and Andhra Pradesh following their bifurcation.
He stated that all EPFO claims are being settled within three days as per Central government guidelines.
Addressing concerns about the Siddipet district PF office, Mandaviya assured that it would remain operational.
Central Provident Fund Commissioner Ramesh Krishnamurthy noted that the new building would house the Telangana zonal office and serve around five lakh EPFO members in the region.
The facility will also include an Additional Data Centre to enhance technological capabilities.
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