If you’re still worried about why it’s so difficult to withdraw your PF funds when you need them, that problem is about to end. The Employees’ Provident Fund Organization (EPFO) is rolling out a digital transformation for its millions of members, making it easier to withdraw PF funds.
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PF Withdrawal Rules: If you’ve been bothered by the lengthy process of withdrawing your PF funds in times of need, this news brings you great relief. The Employees’ Provident Fund Organization (EPFO) is about to make a change for its millions of account holders that will transform the very definition of PF withdrawal. Very soon, you won’t have to visit offices or wait for days to withdraw your PF funds. Now, PF funds can be withdrawn directly not only through ATMs but also through UPI.
New feature may launch in April
According to sources, the EPFO may launch ATM and UPI-based PF withdrawals by April 2026. To achieve this, the organization is fully upgrading its digital system. Last year, the Ministry of Labor and Employment announced that PF withdrawals would be made easier and faster for EPFO members. In line with this, preparations are now underway to allow withdrawals up to a certain limit without any additional authorization.
EPFO 3.0 Trial Completed
According to reports, trials of all modules related to EPFO 3.0 have been completed. No major technical issues have been identified yet, but the organization still wants to avoid any glitches. Therefore, the system is being tested from every angle to ensure that account holders do not face any problems once the facility is implemented.
How will the new system work?
Under the new system, employees will be given an ATM card linked to their PF account, allowing them to withdraw funds directly from ATMs up to a set limit. Furthermore, payments and transfers from their PF balances will be possible through UPI. This will make it easier to make quick cash or digital payments in case of an emergency.
75% Withdrawal Allowance Already Available
It is worth noting that a few months ago, the EPFO allowed members to withdraw up to 75% of their PF deposits. This move provided significant relief to employees during a time of financial crisis. Now, with the introduction of ATM and UPI withdrawals, this process will become even simpler and faster.
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