In EPFO 3.0, PF funds can be withdrawn through ATM and UPI. This facility may also be applicable for General Provident Fund (GPF) and Public Provident Fund (PPF) in future.
EPFO 3.0 Update: There is good news for the employees and account holders of the Employees Provident Fund Organization. The central government is preparing to launch EPFO 3.0 on the lines of PAN 2.0. With this, users will be able to withdraw PF funds from ATM and UPI as well. Many facilities like this will be available in digital way.
In fact, recently Union Labor and Employment Minister Mansukh Mandaviya had told that the EPFO 3.0 platform will start by June 2025. The purpose of this new system is to provide better and faster services to more than 9 crore EPF account holders, so it is likely that it can be launched in the month of June. This will make it easier to improve the account from PF, withdraw money for settlement of complaints, update data and claim settlement.
How to get benefits in EPFO 3.0
Under the EPFO 3.0 program, EPFO will soon provide ATM withdrawal facility for its members. In this, the ATM card will work exactly like a debit card. To withdraw money, you will first have to link your UAN, verify OTP and then withdraw cash.
Apart from this, users will also be able to make changes in their account details, nominee or other changes through OTP from mobile itself. Through this card, they will be able to avail facilities like balance check, cash withdrawal just like debit card and credit card. However, only up to Rs 1 lakh can be withdrawn through ATM and UPI.
You will also be able to make corrections in account details
The special thing is that with EPFO 3.0, members will be able to update details like name, date of birth, gender, nationality, parents’ name, marital status, and date of starting the job online through their Universal Account Number (UAN). That is, members will not need any other documents.
Under the EPFO 3.0 system, members will also be able to correct errors in their accounts such as employee’s name, date of birth, mobile number, permanent address through online medium. There will be a facility of OTP verification for this, which will eliminate the need to fill the old form.
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