If you too have been troubled by the long process of withdrawing PF money at the time of need, then this news has brought great relief for you. Employees Provident Fund Organization (EPFO) is going to make such a change for crores of its account holders, which will change the definition of PF withdrawal. Very soon, there will be no need to visit offices nor wait for many days to withdraw PF money. Now PF amount can be withdrawn directly not only through ATM but also through UPI.
New facility may start from April
According to sources, EPFO may start ATM and UPI based PF withdrawal facility by April 2026. For this, the organization is completely upgrading its digital system. Last year, the Ministry of Labor and Employment had announced that PF withdrawal would be made easier and faster for EPFO members. In this series, now preparations are being made to provide the facility to withdraw the amount up to the prescribed limit without any other permission.
EPFO 3.0 trial completed
According to the information, the trial of all the modules related to EPFO 3.0 has been completed. At present no major technical problem has come to light, but despite this the organization wants to avoid any kind of flaw. This is the reason why the system is being tested from every angle, so that the account holders do not face any problem after the implementation of the facility.
How will the new system work?
Under the new system, employees can be given an ATM card linked to their PF account, through which they will be able to withdraw money up to the prescribed limit directly from the ATM. Apart from this, payment or transfer from PF balance will also be possible through UPI. This will make it easier to make immediate cash or digital payment in case of emergency.
75% withdrawal discount has already been received
It is noteworthy that a few months ago, EPFO had given the facility to the members to withdraw up to 75 percent of the amount deposited in PF. After this step, the employees got great relief during the economic crisis. Now after the introduction of withdrawal facility from ATM and UPI, this process will become more simple and faster.
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