The Union Labor Minister Mansukh Mandaviya recently announced the EPFO 3.0 update, which introduces the option to withdraw your PF directly from ATMs. This digital upgrade is set to roll out by May or June 2024. With this new feature, EPFO members will enjoy benefits like checking their PF balance, tracking transactions, and quicker withdrawals.
So, what’s EPFO 3.0 all about? It’s a digital overhaul aimed at making PF account management easier and faster. The new platform will provide a banking-like experience, streamlining withdrawals and fund transfers for over 70 million members.
Here are some perks of EPFO 3.0:
1. Quick and hassle-free PF transactions
2. Withdraw PF directly from ATMs
3. Online KYC with a paperless approach
4. UPI-enabled transactions
5. Instant balance checks and transaction tracking
Key features of EPFO 3.0 include:
1. ATM withdrawals for PF – No more trips to the bank.
2. Mobile app management – Easily check your PF balance and statements.
3. Quick claim approvals – Get your money without the long wait.
4. Biometric security – Enhanced security to keep your funds safe.
Want to know how to withdraw PF from an ATM with EPFO 3.0? It’s super simple:
1. Go to an EPFO-authorized ATM (a list will be shared soon).
2. Use the card linked to your UAN (Universal Account Number).
3. Enter your PIN and choose the ‘PF withdrawal’ option.
4. Specify the amount you want to withdraw and confirm.
5. Grab your PF cash right from the ATM!
Here are some key updates about EPFO 3.0:
1. You can now change your name, date of birth, and other info online.
2. With quicker claim approvals, withdrawing your PF will be a breeze.
3. A new mobile app from EPFO is on the way!
As for the launch date of EPFO 3.0, the government aims to roll it out by May or June 2025. It will kick off with a trial at select ATMs before being launched nationwide.