If you’re one of the nearly 70 million workers in the country, this news about your PF is pretty exciting. The central government is set to roll out EPFO 3.0, which will let you withdraw your PF money easily, just like you would from a bank. Plus, there are going to be a bunch of other perks with it.

 

The launch of EPFO 3.0 is expected around May or June 2025, and it will come with a new mobile app. This app will let you check your PF balance, keep track of transactions, and withdraw your cash whenever you need it.

 

Union Minister Mansukh Mandaviya shared some details about this. He mentioned that people will be able to withdraw their PF or pension money from any bank, anywhere, without having to visit courts, companies, or other offices for claim transfers.

 

So, what exactly is EPFO 3.0? It’s a revamped digital system that will make EPFO operate like a bank. You won’t need to go through anyone to access your PF money anymore; you can just withdraw it directly from an ATM whenever you want! Here’s what you can expect:

 

– Your PF funds will be fully under your control.

– You can withdraw cash from ATMs anytime, anywhere.

– No more trips to the EPFO office or dealing with HR.

– All your account info will be available digitally, making transactions super easy.

 

Union Labor Minister Mansukh Mandaviya announced on Thursday, March 6, that the Employees’ Provident Fund Organisation (EPFO) is set to introduce EPFO 3.0. This new feature will allow EPFO subscribers to withdraw their provident fund (PF) money directly from ATMs, eliminating the need to visit offices or deal with paperwork.

 

Mandaviya explained, “EPFO will now function like a bank. Just as you can withdraw money from a bank using UPI or an ATM, EPFO subscribers will be able to access their PF funds using their Universal Account Number (UAN).”

 

What are the advantages of EPFO 3.0?

 

ATM withdrawals for PF: Subscribers will no longer have to navigate a lengthy process to access their funds. Similar to banking, you can simply withdraw your PF money from an ATM.

No more paperwork: Previously, withdrawing PF required filling out numerous forms, obtaining HR signatures, and enduring long waits. With EPFO 3.0, all of that will change.

 

Bank-like operations: You will now have the ability to manage your PF account like a bank account, allowing you to withdraw any amount available in your PF at any time.

 

Quick transactions and digital updates: EPFO is transitioning to a fully digital platform. You will be able to check your PF balance and transaction status in real-time through a mobile app.

 

What has changed in the system?

Previously, withdrawing PF could take weeks; now it will be completed in seconds.

 

After leaving a job, individuals had to visit HR and the office to access their PF; now, they can withdraw funds directly from an ATM.

 

The old process required filling out many forms for PF withdrawals; now, everything will be handled digitally.

 

If you’ve encountered difficulties withdrawing your PF money or have heard about such issues from others, EPFO 3.0 is here to resolve those problems. This is fantastic news for all working individuals!