PF Withdrawal From ATMs: Big Update for Employees, Starting This Month
Great news for salaried employees! Withdrawing money from your Provident Fund (PF) account is about to get easier than ever. The Employees’ Provident Fund Organisation (EPFO) is introducing a facility that will allow PF members to withdraw funds directly from ATMs. Here’s everything you need to know.🔑 1. What Is Changing?Until now, employees had to file a claim online or visit the EPFO office to withdraw PF money.Starting this month, EPFO is enabling direct ATM withdrawals for PF accounts linked with Universal Account Numbers (UANs).This move aims to make PF funds more accessible and user-friendly.🏦 2. How Will It Work?EPFO is collaborating with leading public and private banks to roll out this facility.Eligible PF members will receive a special debit card linked to their PF account.With this card, employees can withdraw money from any ATM, just like a savings bank account.📋 3. Who Can Use This Facility?Only those employees who have:An active UANKYC-completed EPF account (with Aadhaar, PAN, and bank details linked)Both salaried professionals and retired employees can benefit from this facility.💰 4. Withdrawal LimitsThe daily withdrawal limit will likely be ₹10,000–₹25,000, depending on EPFO guidelines.For emergency withdrawals (medical needs, education, marriage), higher limits may apply.Service charges for ATM withdrawals will be minimal or waived initially.📅 5. When Will It Start?The facility will begin this month in select cities as part of a pilot project.A nationwide rollout is expected in the next few months, after successful trials. 6. Why This Is a Game-ChangerNo need to wait days for claims to be processed.Instant access to funds in case of emergencies.Greater financial freedom for employees.Boosts digital governance and transparency in EPFO services.🔔 Final Word: Withdrawing PF money will soon be as simple as using your ATM card. Employees should ensure their UAN is active and KYC details are updated to take advantage of this new feature.
Disclaimer:The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the reader’s own risk.
Disclaimer:The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the reader’s own risk.