PF Account Money Withdraw Through ATM: When a system starts, it has some flaws in it first, which are gradually corrected according to time and need. Also, many things are made very easy by adding technically.
This includes many things, one of which is PF. Yes, recently you must have heard that the Employees Provident Fund Organization i.e. EPFO is going to give a new facility to PF account holders from next year. In this, account holders will be able to withdraw money from their PF account from ATM just like they withdraw from a bank account. But do you know how and how much money can be withdrawn from ATM? Has EPFO made any rules regarding this? So let’s know about this. You can know about this in the next slides…
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When will we be able to withdraw money from ATM?
Recently, Union Labor Secretary Sumita Dawra gave information on when PF money will be able to be withdrawn from ATM. It was said that we are updating the hardware regarding this and you will start seeing changes from January 2025. In such a situation, it is believed that PF account holders will be able to withdraw money from ATM from January. However, no fixed time limit has been given for this yet.
How much money can you withdraw from the ATM?
According to the information received so far from the department, initially the account holder will be able to withdraw only 50 percent of the total amount deposited in his PF account from the ATM. However, it is possible that this amount can be increased further. The biggest convenience of withdrawing money from ATM will be that the beneficiaries will not have to wait for many days.
Be sure to know these things:-
- After the introduction of the new facility for PF account holders, employees, beneficiaries and nominees will be able to withdraw their PF money from ATM
- Initially, you will be able to withdraw only 50 percent of the total amount deposited in your account from the ATM
- If someone (PF account holder) dies, then the nominee will be able to withdraw money from the ATM
- Under the EDLI scheme, the family of the deceased member will get an insurance of Rs 7 lakh. You will also be able to withdraw that money from the ATM.
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