Employees’ Provident Fund Organisation (EPFO) today expanded its Multi-Banking Centralised Collection System by empanelling 15 more banks, bringing the total to 32. Addressing the occasion in New Delhi, Union Minister for Labour and Employment Dr. Mansukh Mandaviya said that the country’s progress towards a Naya Bharat is being significantly supported by institutions like EPFO, which plays a crucial role in shaping the nation’s future. He mentioned that with nearly 8 crore active members and more than 78 lakh pensioners, EPFO provides benefits that ensure social security for millions. Dr. Mandaviya also pointed out that EPFO is actively working on evolving towards EPFO 3.0 to make it as accessible and efficient as banks. The newly empanelled 15 banks will enable direct payment of nearly 12,000 crore rupees in annual collections and allow direct access to employers who maintain their accounts with these banks. This initiative will streamline employer payments, enhance efficiency, and reduce transaction delays, benefiting crores of members.