EPFO PF Withdraw: PF holders are going to get a good facility from the Employees’ Provident Fund Organization (EPFO) soon. Withdrawing PF money will become easier. People will be able to withdraw PF funds from ATM or even through UPI.
EPFO PF Withdraw: PF holders are going to get a good facility from the Employees’ Provident Fund Organization (EPFO) soon. Withdrawing PF money will become easier. People will be able to withdraw PF funds from ATM or UPI as well. According to EPFO, this facility will start from May 2025.
PF funds can be withdrawn from ATM, UPI
By the end of May or early June 2025, EPFO ​​​​members will be able to withdraw their provident fund instantly through UPI and ATM. With this update, employees will no longer have to go through long and time-consuming processes to access their PF savings. This initiative is being implemented in collaboration with the Ministry of Labor and Employment and has received approval from the National Payments Corporation of India (NPCI).
Facility to withdraw up to Rs 1 lakh instantly
This move is expected to provide better facilities to lakhs of EPFO ​​​​members across the country. Sumita Dawra, Secretary, Ministry of Labor and Employment, said that employees will be able to withdraw up to Rs 1 lakh instantly. He said that members will also be able to view their PF balance directly on the UPI platform and transfer funds to their preferred bank accounts without any delay.
This will make it easier for employees to access their money in times of need. Currently, withdrawing PF funds requires submitting claims online and waiting for approval, which can take several days or even weeks. However, with UPI integration, withdrawals will become instant and hassle-free.
Employees will not only be able to withdraw funds quickly, but will also be able to check their balance and make transactions instantly. Apart from this, EPFO ​​is also expanding the reasons for withdrawing PF savings for its members. Apart from medical emergencies, employees will now be able to withdraw funds for housing, education and marriage.
Dawra said EPFO ​​has made major improvements in its digital infrastructure by integrating more than 120 databases. These efforts have reduced the claim processing time to just three days, with 95 percent of claims now being processed automatically. Further upgrades are underway to make the system more efficient. IANS
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