EPFO Update: Employees will not have to worry about withdrawing their PF money. The government is now working on a new scheme. The Employees Provident Fund Organisation is reportedly going to operate a new scheme now. As soon as it is launched, PF employees will be able to withdraw their PF money through an ATM. Meaning the process of withdrawing PF money will become very easy.
Meaning you will be able to withdraw cash comfortably through an ATM. Through this scheme of EPFO, crores of salary earners and employees will have to provide more financial convenience and instant cash. Now one has to go to the EPFO portal and claim to withdraw PF. Then you will get rid of this process.
ATMs will be linked to PF accounts.
According to the proposed rules, ATMs will be directly linked to PF accounts. Along with this, subject to the withdrawal limit prescribed by EPFO rules, you can also use your Aadhaar-linked debit card or any PF-linked card to access partial withdrawal or emergency funds. According to an official associated with EPFO, its testing can also start soon in some cities of the country.
At the same time, this system will not only make access to PF faster, but will also reduce the administrative burden on EPFO offices. Experts believe that this change is going to prove to be a big boon in times of need for money. Now everyone is waiting for when the facility of PF withdrawal from an ATM will be started.
Annual interest
For information, let us tell you that the interest amount is provided to PF employees every year by EPFO. In the financial years 2024 and 2025, the central government has deposited 8.25 interest amount in the account for PF employees. Almost all 7 crore PF employees have got the benefit of this. It is believed that the employees will benefit from this.