Health Minister Mansukh Mandaviya inaugurates new EPFO office in Hyderabad

The new EPFO office at Begumpet in Hyderabad on Thursday.
| Photo Credit: RAMAKRISHNA G

The new building of the Employees’ Provident Fund Organisation (EPFO) Regional Office was inaugurated at Begumpet on Thursday by Union Minister for Labour and Employment Mansukh Mandaviya.

Speaking at the inauguration, Mr. Mandaviya described the new facility as a ‘temple’ for employees, where officers would work to resolve their concerns efficiently.

He highlighted the ongoing reforms in EPFO under the Central government, including the recent announcement of an 8.5% interest rate for all EPFO account-holders. Citing an example, he noted that earlier, processes such as name changes required extensive paperwork and multiple visits to officers, where as now, they can be completed digitally.

EPFO 3.0

He also underscored that EPFO account-holders can now claim their funds from any EPFO branch, ensuring greater convenience. Mr. Mandaviya further announced the upcoming launch of ‘EPFO 3.0’ which aims to transform the organisation into a bank-like institution. “With this, no individual will need to visit an EPFO office. They will be able to withdraw their provident fund from an ATM,” he said.

Union Minister G. Kishan Reddy highlighted the administrative changes following the bifurcation of Telangana and Andhra Pradesh, stating that EPFO offices for both states have now been separated. He also noted that, as per Central government guidelines, all EPFO claims are now being settled within three days.

Addressing concerns raised by Medak MP M. Raghunandan Rao, who urged that the district PF office in Siddipet not be merged with Hyderabad due to the high concentration of livelihoods in the area, Mr. Mandaviya assured that the office would remain operational in Siddipet. He directed Central Provident Fund Commissioner (CPFC) Ramesh Krishnamurthy to ensure its continued functioning.

Mr. Krishnamurthy, in his address, stated that the new building would also house the Telangana zonal office and cater to around five lakh EPFO members in the region. “EPFO is working towards increasing its infrastructural capabilities to better serve employees,” he added.