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The most important feature is that the labour ministry is planning to issue a card for PF withdrawals, which can be done through ATMs.

However, the amount which can be withdrawn will have a limit of 50% on the total deposit.

This feature may be implemented somewhere between May and June 2025.

Another development is that the government may eliminate the current 12% cap on contributions, giving employees the option to contribute as much as they want.

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However, there will be no burden on the employer themselves since the employer’s contribution will be fixed based on the employee’s salary.

According to the report, the government is also planning to convert this amount into a pension upon the employee’s consent.

The central government could also increase the salary limit for the Employees’ Provident Fund (EPF) scheme, which, if implemented, would come 10 years after it did so last time.

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The last time was in September 2024 when the newly elected Modi government increased the EPF scheme salary ceiling from ₹6500 to ₹15,000.

However, discussions regarding all of these features and policy changes are currently at the very initial stages.