New Delhi: In a move set to benefit millions of working professionals, the Employees’ Provident Fund Organisation (EPFO) is preparing to roll out a new facility that will allow PF subscribers to withdraw funds through UPI and ATM debit cards. According to reliable sources within the EPFO, the new system is expected to launch in the coming two to three weeks and will bring much-needed convenience and speed to PF withdrawals.
Faster and Easier PF Withdrawals on the Horizon
Currently, withdrawing money from a PF account involves filing an online claim, which typically takes 10 to 15 days for the amount to be credited. But under the upcoming system, subscribers will be able to access a portion of their PF funds instantly through ATMs and UPI platforms, without needing to file a formal claim.
According to officials from the Central Labour Ministry, the money deposited in the PF account belongs to the employee, and they should be able to access it easily. The ministry has stated that employees will be able to withdraw funds up to a pre-defined limit under this new system, which is being developed to simplify the process.
ATM & UPI-Based Withdrawals to Enhance Transparency
The EPFO is currently working on addressing certain software-related challenges to ensure the new system is smooth and secure. Once the technical issues are resolved, employees will be able to withdraw PF funds at ATMs using debit cards and through UPI-based platforms, offering greater transparency and flexibility.
This initiative is part of the broader effort by the EPFO to modernize its services and make PF withdrawals more user-friendly for account holders.
Auto Claim Settlement Limit Increased to ₹5 Lakh
In another major development, the auto-claim settlement limit has been increased to ₹5 lakh—five times higher than the previous ₹1 lakh limit. Under this system, PF withdrawal claims up to ₹5 lakh will now be settled electronically within just three days, without any need for manual verification.
This enhancement is expected to significantly reduce processing times and bring faster financial relief to employees in times of need—whether for medical emergencies, education expenses, or family obligations.
A Major Boost for PF Subscribers
These upcoming changes are being widely welcomed by the working community, as they promise greater convenience, faster access to funds, and reduced paperwork. Once fully implemented, the ability to withdraw PF money through ATMs and UPI will be a game-changer for crores of employees across India.
For now, subscribers are advised to stay tuned for an official announcement from the EPFO in the coming weeks.
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- My name is Kuldeep Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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