EPFO Update – The government is going to provide significant relief to salaried employees whose provident fund (PF) is deducted. Major changes are coming to PF withdrawal rules. The changes will allow employees to easily withdraw their PF money through ATMs. Preparations are underway to link PF accounts to ATMs soon, ensuring a hassle-free process.
This facility will be implemented before March. Currently, people have to wait for several days to withdraw their PF money. But this will no longer be the case. Your problem will be solved easily. This facility will be launched under EPFO 3.0, which will prove to be a boon. This will end the difficulties faced by employees.
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When will the facility be available?
The EPFO’s ATM and UPI facility is likely to be implemented before March. A few days ago, Union Minister of Labour and Employment Mansukh Mandaviya also made this claim. He expressed hope that it would be implemented before March 2026. He also stated that the PF system is expected to become completely digital and faster within the next year.
The government’s objective is to simplify the facilities available to PF employees. The purpose of this government change is to ensure that employees do not face any difficulties in accessing their own money. Currently, claims have to be filed, which are sometimes rejected.
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How will the PF Withdrawal Card work?
The new EPFO system is going to be very simple. EPFO may issue a special PF withdrawal card to its members. This will be similar to an ATM card. This card will be directly linked to your PF account.
You can withdraw PF money up to a certain limit by entering a PIN or OTP at any ATM. The money will be transferred to your bank account. This will eliminate the need for cash or checks.
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You can also withdraw PF through UPI.
Not only that, but PF money can also be withdrawn through UPI. Just like account holders transfer money using PhonePe, Google Pay, or BHIM, PF money can be sent directly to the bank account from the EPFO portal or UPI app. After OTP or biometric verification, the money will be credited to your account within a short time.
Considering retirement security, the government cannot allow the withdrawal of the entire PF amount. According to a report, a maximum of 75 per cent of the amount can be withdrawn. The remaining money will remain safe for your future.