The Employees’ Provident Fund Organization (EPFO) of India will revolutionize provident fund (PF) withdrawals with its EPFO 3.0 upgrade later, as members would be able to withdraw the amount directly from ATMs.
Important Features of EPF Withdrawal through ATM
1. Instant Access: No more waiting days for PF. Members can withdraw instantly by using the EPFO-issued ATM card or through UPI-enabled apps.
2. Ease of Process:
-
Go to any EPFO-enabled ATM
-
Insert the special EPFO ATM card
-
You need to enter the UAN (Universal Account Number) and the amount to withdraw
-
After this, you have to verify using OTP, PIN, or biometric authentication
-
Get cash immediately
Important Rules & Limits
1. Withdrawal Limit: Instant withdrawal of up to 50% of the PF balance or ₹1 lakh (lower of the two) is allowed for preserving the retirement corpus.
2. Eligibility:
-
Account should be KYC compliant
-
UAN should be active and linked
-
The facility is being rolled out in phases for widespread implementation by mid-2025
Advantages of the New System
-
This will help you to facilitate immediate cash for emergencies, medical expenses, or urgent needs
-
This will lead to a reduction in paperwork and time-consuming approval procedures
-
As this is available 24/7, accessible to funds, it promotes member convenience and financial autonomy
EPF ATM withdrawal is a significant advancement in empowering Indian workers with greater control and access to their hard-earned retirement funds, making the transaction quick, easy, and safe.
Shubhi is a seasoned content writer with 6 years of experience in digital media. Specializing in news, lifestyle, health, sports, space, optical illusions, and trending topics, she crafts engaging, SEO-friendly content that informs and captivates readers. Passionate about storytelling, Shubhi blends accuracy with creativity to deliver impactful articles across diverse domains.
