This announcement was made on 28 March 2025. Which is now going to be implemented from 1 May 2025. It is worth noting that up to three transactions are free in metro cities right now.

Withdrawing cash from ATM will become expensive from next week. The Reserve Bank of India had announced this on 28 March 2025. Till now the limit for withdrawing cash from ATM machine has been kept at Rs 21 per transaction. But very soon the charge or fee levied on the transaction will increase.

How much will I have to pay now?

According to the announcement made by RBI, now customers will have to pay a charge of Rs 23 instead of Rs 21 for withdrawing cash from ATM. Which means that RBI has increased the withdrawal charge by Rs 2.

However, currently three transactions are free in metro cities like Mumbai, Kolkata, New Delhi etc. However, for more transactions than this, a charge of Rs 21 has to be paid. In simple words, free cash can be withdrawn from ATM up to three times. If you withdraw more than this, a higher charge is levied.

Why is there a withdrawal charge?

If a customer is a customer of Bank X. But uses another bank to withdraw cash. Then such other bank charges interchange fees from Bank X. Bank X will charge this fee from its customer in the name of withdrawal charge.

How to avoid charges or fees?

This charge can be easily avoided. Currently, withdrawing cash from ATM up to three times is free. Or there is no zero or any charge on this. You should decide in advance how much cash you may need this month. Accordingly, withdraw cash from ATM once or twice.

Along with this, you can use UPI app or ATM card for many types of expenses or to buy goods. Nowadays UPI payment is accepted at every small and big shop.

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The post ATM rule change 1st May 2025: Key Major Changes including Charges & Withdrawal Limit first appeared on Rightsofemployees.com.

Employees’ Provident Fund Organization (EPFO) was established to improve the retirement of private sector employees. To raise retirement fund for employees, every month the company and the employee deposit equal amount in PF (Provident Fund). The government also pays annual interest on this. At present the interest rate in PF is 8.15 percent.

As we told, this amount deposited in EPF is a retirement fund but it can be withdrawn if needed. The government has made some rules to withdraw funds for every need. If you are also planning to withdraw from PF, then today we will tell you how much money can be withdrawn from which item.

When and how much money can be withdrawn from PF?
Employees can withdraw full or partial withdrawal of funds from PF fund simultaneously. Some rules have been made for this.

Rules for withdrawing full money from PF
When the employee retires, the entire amount can be withdrawn at once.
If the employee is unemployed for a month or more, he can withdraw 75 percent of the PF amount. He can withdraw the remaining 25 percent amount in the next two months in case of unemployment.

Rules for partial fund withdrawal
Employees can use partial funds to meet their emergency needs. The government has made some rules regarding how much amount can be withdrawn for different needs.

For treatment: If you want to withdraw PF funds for medical emergency, then you can withdraw six times the basic salary or the total amount deposited and interest amount in the employee’s share in PF, whichever is less. Are. From this item, the employee can withdraw the amount for the treatment of himself, children, spouse and parents.

For marriage: If you are withdrawing money from PF for marriage, then it is necessary to have 7 years of service for this. The employee can withdraw money for the marriage of himself, his son or daughter, brother or sister. Talking about the amount, the employee can withdraw only 50 percent of his share of the total deposit.

For education: The account holder can withdraw only 50 percent of the employee’s share in PF for his or her children’s education. Along with this, it is mandatory for him to have 7 years of service.

For buying land and buying or building a house: If you are withdrawing PF money for building a house, then it is necessary to have five years of service for this. To buy land, an employee can withdraw up to 24 times his basic and dearness allowance from PF. At the same time, to buy a house, employees can withdraw 36 times the amount of basic and dearness allowance.

Along with this, there are some other conditions, in which the house or land should be in the name of the employee or in the joint name of the husband and wife. Money can be withdrawn only once during the entire service to purchase land or house. After the money is withdrawn, the construction of the house should start within 6 months and the construction should be completed within 12 months.

The post PF Withdrawal Limit : When and how much money can be withdrawn from PF? Know complete details here first appeared on Rightsofemployees.com.