EPFO, UPI, GST And Visa: These Things Will Change Starting January 1, 2025
Starting January 1, 2025, a slew of regulatory and financial changes will be coming into effect, affecting citizens across the country. From changes in the Employees' Provident Fund Organisation (EPFO) procedures to adjustments in LPG pricing and the Unified Payments Interface (UPI), the new year could have a significant impact on your wallet. Here's a complete list of the changes that you can expect. EPFO new rule EPFO is set to streamline the pension withdrawal process from January 1, 2025 as part of the centralised pension payment system (CPPS). Pensioners will now have the convenience of withdrawing their pensions from any bank in the country, eliminating the hassle of additional verification. Reports suggest that EPFO will be soon issuing an ATM card that will enable subscribers to withdraw money around the clock. Moreover, the EPF contribution cap is expected to be eliminated this year as well. GST Multi-factor authentication (MFA) will be made mandatory for taxpayer...