EPFO’s Digital Booster : Along with promoting financial inclusion in our country, i.e. India, a new digital booster has been launched by the Employees’ Provident Fund Organization. Under this digital booster, a unique opportunity is being presented to link Aadhaar with Rs 7 crore.
Under this, employees will be able to take the entire interest of up to ₹ 50000 from their provident fund in advance. This is a very good news. With this interest, your financial goals can be achieved quickly.
All features of EPFO Digital Booster
We are going to give information about all the features of EPFO Digital Booster which are given below:-
- EPFO’s digital booster i.e. the new feature is now completely available online. Due to this, employees will no longer need physical documentation at all.
- The process of applying online has become much simpler and time saving.
- All users will be able to easily login through their Universal Account Number.
- Through this facility, employees are able to view their PF balance details without any hassle.
- Now the work of transferring money to bank accounts will be done by the government through digital medium.
How to avail EPFO Digital Booster
By following all the easy steps given below, all the employees will be able to avail the benefits of EPFO’s digital booster which is as follows:-
- To avail the benefit of EPFO Digital Booster, first of all the employees need to log on to the official website of EPFO.
- Once here, you need to login using the correct UAN number and password.
- Once this is completed, one has to enter the field of online services.
- After coming here, you have to select the option ‘Claim (Form-31, 19 & 10C)’ given on the screen.
- After selecting the option, you have to enter the account details carefully and verify them in the new page
- And important information also has to be filled carefully.
- Here, after all the work is completed, you have to click on the Proceed for Online Claim button.
Financial benefits from EPFO’s digital booster
- Under this scheme, employees will be able to get advance interest of up to ₹ 50,000 on their existing PF balance.
- The loan is available for immediate use in any emergency.
- The interest on loan will be as per the eligibility criteria prescribed by the Government of India.
- Interest is being calculated on the basis of PF balance of the employees.
- Employees will be able to easily increase their financial prosperity under this.
limitations with benefits
- The advantage is that there will be increased financial security for the employee.
- The advantage is that time will be saved through digital process.
- The limitation is that technical problems may be encountered.
- The limitation is that there will be lack of internet connectivity in rural areas.
