EPFO ATM Withdrawal: EPFO i.e. Employees Provident Fund Organization is now going to make your life easier. If you are a provident fund (PF) subscriber, then be happy, because now your PF withdrawing money from the bank is going to be as easy as it is going to be as easy as it is directly from ATM.
All this will be possible through EPFO's new digital infrastructure version 3.0, which is in full swing to launch by May or June 2025. The purpose of this entire initiative is to make access to your retirement funds easy, fast and trouble free. Union Labor and Employment Minister Mansukh Mandavia has also confirmed this.
EPFO 3.0: PF facilities will be more smart and easy (EPFO ATM withdrawal)
EPFO is going to launch the new digital platform EPFO version 3.0 for its millions of members soon. Its purpose is to make the service fast, transparent and trouble free. Let us know what new facilities you are going to get in this new system.
ATM withdrawal facility: Like PF subscriber bank, you will be able to remove your PF funds from ATMs. This feature will be very simple and timely saving.
Auto-Clam Settlement: Through this facility, PF claim will be settled on its own in a very short time. The money will be transferred directly to the user's bank account.
Digital account correction: Now physical form will not be required for correction in any personal information (such as name, date of birth etc.). Everything can be done online.
OTP based update: Information to the account or change in bank details will now be possible only through an OTP (One Time Password).
All these new features will make the process associated with EPFO quite fast, transparent and easy. Due to this, common people will not have to travel to offices and will also save time.
EPFO is managing an amount of more than ₹ 27 lakh crore (EPFO ATM withdrawal)
According to media reports, the Employees Provident Fund Organization is currently managing an amount of more than ₹ 27 lakh crore. PF account holders are currently being given 8.25 percent interest.
