New Delhi: The central government is making a new scheme for PF employees, which will be very effective. Now, work is being done to make EPF withdrawal easier. No, the EPF account will be linked to UPI, making it easier for the employees. After the new rule, subscribers can withdraw money from their PF account through a digital wallet.
EPFO has also prepared a blueprint for this scheme, which can be implemented soon. It is expected that EPFO can implement the new rules by June 2025. Apart from UPI, money can also be withdrawn through ATM. At present, one has to apply for withdrawal from EPF, which takes more than a week to transfer.
Read More: Government’s mega gift to the MPs, their salary, pension and DA increased this much.
EPFO has prepared the blueprint
If the news going on in the media is to be believed, after UPI integration with EPF, employees can directly receive from their digital wallet. This will make the withdrawal process fast and easy. The new plan can be implemented by June 2025—the employee’s salary will determine the employer’s contribution.
This will not put any additional financial burden on the employer. After starting this facility, employees can quickly get the claim amount through a digital wallet once registered.
PF can also be withdrawn from an AT.M
For information, let us tell you that EPF withdrawals can also be made from an ATM. Anyway, the EPF withdrawal process is completed in about 7 days so that it will be completed in a few hours after UPI integration. This will not allow the claim to be rejected. The most important thing is that the transaction will have a lot of transparency. The EPFO 3.0 program will also provide a different type of withdrawal facility for employees from ATMs.
Read More: LIC ‘ss Smart Pension Plan: Invest Once, Get Lifetime Pension.n
Read More: These are the disadvantages of drinking tea on an empty stomach in the mornin.g