Modi Government Approves Big PF Boost: ₹5 Lakh Auto-Withdrawal Limit for 7.5 Crore EPFO Members

April 1, 2025.New Delhi— In a considerable relocation readied to profit 7.5 crore Workers’ Provident Fund Company (EPFO) members, the Modi federal government has actually accepted a proposition to increase the auto-settlement limitation for PF withdrawals from 1 lakh to 5 lakh. The proposition was greenlit by Sumita Dawra, Assistant of the Ministry of Work and Work, throughout the 113th conference of the Central Board of Trustees (CBT) in Srinagar, Jammu and Kashmir.

Secret Emphasizes of the PF Withdrawal Reform

• New Limit: Auto-settlement of PF advancement declares raised from 1 lakh to 5 lakh.

• Qualified Beneficiaries: Over 7.5 crore energetic EPFO members stand to take advantage of faster, automated withdrawals.

• Authorization Status: Gotten rid of at executive degree, pending final approval by the CBT.

• Objective: To ease monetary access for workers throughout emergency situations like health problem, education and learning, real estate, or family members occasions.

What Is Auto-Settlement?

Auto-settlement enables EPFO cases to be refined automatically, with minimal human intervention. It decreases hold-ups and enhances openness and rate. According to records:

Coming Quickly: PF Withdrawals by means of UPI and ATMs

In a first-of-its-kind move, the federal government additionally prepares to present PF withdrawal with UPI and ATMs by May– June 2025. This will make accessing PF funds as easy as making use of a bank card or a UPI-enabled application.

Advantages of UPI/ATM Access:

• Instantaneous withdrawals as much as 1 lakh

• 24 × 7 access to funds, no demand to go to an EPFO office

• Will incorporate with existing financial applications and atm machine networks

What’s Following?

The last nod from the Central Board of Trustees is waited for, after which:

• EPFO systems will certainly be upgraded to mirror the 5 lakh limitation.

• Understanding projects will certainly enlighten participants on making use of the UPI and atm machine features for smooth fund accessibility.

Federal government’s Vision: Streamlining Staff member Benefits

Sumita Dawra highlighted that this reform becomes part of the federal government’s objective to improve convenience of living for India’s functioning course. By automating negotiations and streamlining withdrawals, the EPFO is being changed right into a real-time, employee-first institution.

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