Overview
- Officials say the tender to implement and operate the new IT platform is in final financial vetting and will be floated soon, following an earlier EOI that shortlisted Wipro, Infosys and TCS.
- EPFO 3.0 will introduce a new portal and backend architecture that enables bank‑like centralised operations, letting members resolve grievances at any EPFO office nationwide.
- The rollout plan includes AI-powered vernacular support using Bhashini to deliver information in regional languages for easier access.
- EPFO 2.0 is nearing completion, with UPI-based withdrawals via the BHIM app targeted by April; the interface will show eligible balances, with an initial per‑transaction cap of about ₹25,000 under internal discussion.
- The revamp is designed for scale as EPFO manages about ₹28 lakh crore for nearly 8 crore active members, and it is reported that EPFO may be tasked with a separate social security fund for unorganised workers.