EPFO 3.0 / Great news for PF account holders, you can withdraw PF money directly from ATM

EPFO 3.0: The Employees' Provident Fund Organization (EPFO) has announced a major facility for PF account holders. Labor Secretary Sumita Dawra said on Wednesday that from the beginning of next year, PF subscribers will be able to withdraw funds directly from their accounts through ATMs. This step has been taken to promote ease of living for employees and simplify the processes.

New facility in PF withdrawal

Under the new update, in EPFO ​​3.0, employees will be given the facility to apply for partial withdrawal and receive funds through ATM. Earlier applying for PF withdrawal and receiving the amount was a time-consuming process, but now this process will become digital and faster.

The Labor Secretary said, "We are upgrading our IT systems so that claim settlement can be done quickly and easily. Now subscribers will be able to withdraw their claim amount directly from the ATM, which will reduce human intervention and simplify the process."

How to withdraw?

Claim Filing: PF account holders can apply for partial withdrawal through Umang App or EPFO's official website (https://www.epfindia.gov.in).

ATM Facility: Once the application is approved, subscribers will be able to withdraw their amount through ATM.

Terms: This facility will be available only in circumstances where partial withdrawal is allowed, such as for medical emergency, education, home purchase or repair.

Work on increasing pension also

Along with this facility, work is also being done to improve and increase the pension under EPFO ​​3.0. Employee organizations have long raised the demand that the pension amount be increased. This initiative will provide financial security to millions of employees and their families.

Benefits of EPFO's new initiative

The process will be fast and simple.

Employees will have minimal hassle.

Digital update will speed up claim settlement.

ATM facility will facilitate quick withdrawal.

Pension reform will promote economic stability.

Conclusion

This step of EPFO ​​is an important initiative towards digitalization and convenience of employees. This will benefit crores of employees and their financial needs will be met easily. This new facility of the government and EPFO ​​will further strengthen the confidence of the employee workforce.