EPFO, LPG, UPI and More: Major Rule Changes Effective January 1, 2025

EPFO, LPG, UPI & More: There would be changes with respect to regulation services and financial systems in terms of EPFO, UPI, Visa, and GST from January 1, 2025.

Citizens would identify a few new processes by the Employee Provident Fund Organisation pertaining to the changes made in UPI and have an effect on the finances of people.

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List of changes to begin-

EPOF

A report has said that EPFO will completely change the pension withdrawal system from 1 January, because it falls under the Centralised Pension Payment System (CPPS). Now a citizen would be able to withdraw his pension from any bank, without going through a hassle-free pension.

Please note here that EPFO may soon come up with an ATM so that the beneficiary can withdraw the money in 24*7 hours. Above all, it may remove the cap right in this financial year, too.

GST

The most important thing that will be done has been mentioned for taxpayer protection for GST on its portal-the authentication multi-factors coming into effect. Also, E-Bills will be generated only for base documents not exceeding the age of 180 days.

UPI and farmer loans

UPI 123 Pay will increase the maximum value of transactions from Rs 5000 to Rs 10000 beginning January 1, as per a circular received from the Reserve Bank of India (RBI).

Similarly, the limit on farmer loans has increased from Rs 1.60 lakh to Rs 2 lakh by the Reserve Bank of India.

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Visa

Schedule Change for Visa Appointment

From January 1, 2025, all aspirants for non-immigrant visa to the United States will have the opportunity to avail of one exemption from rescheduling their appointments.

Changes in H1-B Visa

The new H-1B process will be being flexible for the employers, and it would be made open to F-1 visa holders, as announced from January 15, 2025.

LPG Pricing

The Centre is going to reduce the prices of commercial LPG from Rs 1818.50 to Rs 1804 across the country.

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