EPFO: When will you be able to withdraw PF money from ATMs, and what will be the limit?
EPFO: If you are a salaried employee and your PF is deducted from your bank account, then this news will bring you great relief. Until now, you had to go through lengthy online processes or visit offices to withdraw your PF money, but all this is soon going to be a thing of the past. EPFO is preparing to introduce a revolutionary facility, after which you will be able to withdraw money from your PF account just like you withdraw cash from a bank ATM.
According to media reports, this facility may be launched for crores of subscribers in the country in 2026. Although no official statement has been issued yet.
'Special Card' of EPFO's will work like a debit card
Under this new system, EPFO is planning to issue a 'special card' to its members. This card will work exactly like your bank debit card. According to reports, the government believes that PF money belongs to the account holder and access to it should be easy in times of need.
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In this direction, EPFO has completed initial discussions with banks and the Reserve Bank of India (RBI). It is claimed that the necessary technical infrastructure for withdrawing money from ATMs has been almost completed.
Crores of salaried people lives will become easier
This decision will directly affect more than 7 crore employees working in the organized sector of the country. If we look at the EPFO data, there has been a tremendous increase in its scope in the last decade
Limit is still uncertain, but preparations are complete
However, while the facility to withdraw PF through ATMs will be available, there will be a fixed limit. Currently, it is not clear how much money you will be able to withdraw at once or in a month. The withdrawal limit is yet to be decided.
Summary
It is noteworthy that EPFO is continuously simplifying its rules. Earlier this year, the institution increased the limit for automatic claim settlement to Rs 5 lakh, making it easier to withdraw money for expenses such as illness or marriage.
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