From next year you can withdraw PF money directly from ATM
EPFO members will be able to withdraw Provident Fund (PF) amounts directly from ATMs from next year.
Union Labor Secretary Sumita Dawra announced this on Wednesday. The Labor Secretary said, 'With the new facility, beneficiaries can withdraw the claim amount directly from the ATM. This will reduce human intervention.' He told that the Labor Ministry is upgrading the IT system. A big change will be seen by January 2025. Earlier, there was news that an ATM-like card could be issued for PF under EPFO 3.0. Currently, one has to wait for 7-10 days after submitting the necessary documents for withdrawal of money. There are more than 7 crore active contributors in the Employees Provident Fund Organization.
Union Labor Secretary Sumita Dawra announced this on Wednesday. The Labor Secretary said, 'With the new facility, beneficiaries can withdraw the claim amount directly from the ATM. This will reduce human intervention.' He told that the Labor Ministry is upgrading the IT system. A big change will be seen by January 2025. Earlier, there was news that an ATM-like card could be issued for PF under EPFO 3.0. Currently, one has to wait for 7-10 days after submitting the necessary documents for withdrawal of money. There are more than 7 crore active contributors in the Employees Provident Fund Organization.