The Employees’ Provident Fund Organization (EPFO) will provide a new facility to its users. Now, users will be able to withdraw cash through ATMs. EPFO will also provide special cards to beneficiaries. Union Labor Ministry Secretary Sumita Dawra has confirmed this. She mentioned that after the PF settlement, beneficiaries will be able to withdraw money directly from the ATM, meaning they will not need to visit any other locations.
New Facility for Users
Currently, EPFO members must wait 7-10 days for settlement before they can withdraw money, as the funds are transferred to the beneficiary’s account only after the online claim is settled. However, Union Labor Ministry Secretary Sumita Dawra has stated that EPFO is working on providing a new facility that will simplify this process and make it more beneficial for users. With this change, beneficiaries will no longer need to go through lengthy procedures; they will be able to directly access their funds.
Withdraw your PF directly from ATMs starting next year: Labour secretary
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Focus on Improving Information Technology
Dawra mentioned that EPFO’s focus is on improving its information technology. The aim is to enhance the system by upgrading hardware and improving overall efficiency. Users are expected to see some of these changes by January 2025. EPFO is actively working on these improvements to benefit its members and make the process smoother for them.
Changes in the IT System
The government has urged users to adapt to these upcoming changes, which are being implemented for better EPFO service. Continuous improvements are being made to the IT system to streamline PF provisions. While it has already been included in claims and self-claims, it is still in progress to reach the final stage. Once completed, these changes will make the process much easier for users.