PF ATM withdrawal: There’s some big news for members of the Employees’ Provident Fund Organization (EPFO). The EPFO may begin offering ATM withdrawals starting in January 2026. According to reports, the CBT, the EPFO’s highest decision-making body, is expected to approve ATM withdrawals at its board meeting scheduled for the second week of October.
The ATM withdrawal facility will provide significant relief to employees, eliminating the need to submit claims online. This will also save them from long waits. Employees can easily withdraw their PF funds from any ATM branch. According to a senior Labor Ministry official, the ministry has discussed the launch of the EPFO ATM facility with banks as well as the RBI. The official said the ATM facility is seen as a necessity as the government wants to provide people with better access to their PF accounts.
Right now EPFO currently has 78 million registered members, who have contributed a total of over 28 lakh crore rupees. In 2014, this figure was 7.4 lakh crore rupees and 33 million rupees.
A card will be issued for withdrawing money from PF
Sources said that EPFO may issue a special card to its members, which will allow them to withdraw a part of their funds from ATMs. Earlier this year, EPFO had increased the automatic claim settlement limit from Rs 1 lakh to Rs 5 lakh to facilitate easy access to funds for subscribers. Under this process, an automated system uses a set of digital checks and algorithms to confirm the eligibility of claims.
The entire process is system-driven and based on the KYC details of the member. Experts say allowing EPFO withdrawals through ATMs will make it more convenient for members to access funds, especially in emergencies, as withdrawals currently often involve procedural delays and paperwork.