EPFO Board Meeting on October 10, 11: Key Changes Likely, Employees May Get Big Relief

The Employees’ Provident Fund Organisation (EPFO) is set to hold a Central Board of Trustees (CBT) meeting on October 10–11. Experts believe this meeting may bring some good news for employees, although the official agenda has not yet been finalized. According to financial experts and industry observers, key proposals could be taken up for approval.

Key Proposals Likely to Be Discussed

ATM Withdrawals:
Plans are being made to give EPF accounts a banking-like system. Members may be allowed to make partial withdrawals through ATMs.

UPI Payments:
Selected transactions may be enabled directly from EPF accounts using UPI, making payments faster and easier.

EPFO 3.0 Reforms:
The proposal aims to integrate digital payment systems and improve ease-of-access features. The idea is to modernize EPF services to match today’s banking infrastructure, simplifying access for more than 8 crore subscribers.

Pension Hike:
Another major proposal could be raising the minimum monthly pension from the current ₹1,000 to as high as ₹7,500, considering rising inflation and cost of living.