There’s some big news for EPFO employees. It’s expected that starting in January, PF employees will be able to withdraw their PF funds through ATMs.
Add informalnewz.com as a Preferred Source
ATM withdrawal: A major update has arrived for Employees’ Provident Fund Organization (EPFO) members. The EPFO may launch ATM withdrawal services from January 2026. According to reports, the CBT, the highest decision-making body of the EPFO, is expected to approve ATM withdrawals at its upcoming board meeting in the second week of October.
The ATM withdrawal facility will provide significant relief to employees. They will not need to submit an online claim to withdraw funds. This will also eliminate the need for long waits. Employees can simply go to an ATM branch and withdraw their PF funds from an ATM.
A CBT member told Moneycontrol that they have learned that the EPFO’s IT infrastructure is ready to allow ATM-like transactions. He added that there will be a limit on ATM withdrawals, but this is still being discussed.
Ministry Talks With RBI
A senior Labor Ministry official stated that the ministry has discussed the launch of the EPFO ATM facility with banks, as well as the RBI. The official stated that the ATM facility is being viewed as a necessity as the government wants to provide people with greater access to their PF accounts.
EPFO has a total of ₹28 lakh crore
There are currently 7.8 crore registered members under the EPFO, who together have deposited over ₹28 lakh crore. In 2014, this figure was ₹7.4 lakh crore and 3.3 crore.
Card to be issued for PF withdrawal
Sources said that the EPFO is likely to issue a special card to its members, allowing them to withdraw a portion of their funds from ATMs. Earlier this year, the EPFO increased the automatic claim settlement amount from ₹1 lakh to ₹5 lakh to ease the availability of funds for customers. Under this process, the 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 member’s KYC details.
Experts say that allowing EPFO fund withdrawals through ATMs will make access to funds more convenient for members, especially in times of emergency, as withdrawals currently often involve procedural delays and paperwork.
Read More: UPI transaction rules will change from October 8, so you can make payments this way.
