EPFO ATM Withdrawal: This is important news for the employees of the Employees’ Provident Fund Organization (EPFO). EPFO is soon going to launch its new and advanced service EPFO 3.0.
The purpose of launching the new system is to make the access of facilities easier and better to the members. After the launch of EPFO 3.0 system, EPFO users will also be able to withdraw PF funds from ATM and UPI. Apart from this, many facilities like account correction, auto-claim settlement and grievance redressal will be available digitally.
When will the facility be launched
In fact, Union Labor and Employment Minister Mansukh Mandaviya has already said that the EPFO 3.0 platform will be launched between May and June 2025. The purpose of this new system is to provide better and faster services to more than 9 crore EPF account holders. In such a situation, there is every possibility of its launch in the month of June.
Know how much money you can withdraw
At present, it takes about 10 to 15 days for members to withdraw PF funds. However, after the introduction of ATM and UPI facility, this will be a matter of minutes. However, only up to Rs 1 lakh can be withdrawn through ATM and UPI. This will save employees from going through a long process and will also save time. Apart from this, efforts have also been made to speed up the process of claim settlement under the new system. Now many types of claims will be settled automatically, which will reduce dependence on manual process.
EPFO will issue withdrawal card
The Employees Provident Fund Organization will issue EPF withdrawal card to the employees to provide ATM withdrawal facility. Through this card, they will be able to avail facilities like balance check, cash withdrawal just like debit card and credit card.
You will be able to easily correct your account details
At the same time, under the EPFO 3.0 system, members will be able to immediately correct the errors in their accounts through online medium. This includes the employee’s name, date of birth, mobile number, permanent address. There will be a facility of OTP verification for this. Due to which the need to fill the old form will be eliminated. Apart from this, EPFO is also improving its complaint system under the new system. In such a situation, now the complaints can be resolved as soon as possible.
