EPFO Update - The Ministry of Labor and Employment is going to make an important announcement regarding Prize Fund (PF) soon. This will simplify the rules for withdrawing money from PF account. The current process of withdrawing money is difficult, but after the new scheme it will become very simple-The Chopal, EPFO Update - The Ministry of Labor and Employment is going to make an important announcement regarding the Prize Fund (PF) soon. This change will make it easier to withdraw money from the PF account. Currently the process of withdrawing money is long, but according to the new scheme, a new card like ATM Card for PF will be made. With the help of this card, people will be able to withdraw PF money directly from the ATM machine. In such a situation, today we will tell you how PF money can be withdrawn and how much time it takes.
What is the government going to do?
Secretary of the Ministry of Labor and Employment, Sumita Dawra, said that the government can start the facility of withdrawing money from ATM by 2025. A decision will be taken to remove those non-essential processes. There may be a big change in the PF system from January 2025.
IPFS members can get the facility of withdrawing money directly from ATM when IT 2.1 version is implemented. This will make the transaction easy for the employees and they will be able to withdraw money from their paytm bank easily.
How to withdraw money from PF now?
Currently, it takes a lot of time for EPFO members to withdraw money. At the same time, it takes a lot of time to complete it. To withdraw money, first go to the EPFO portal. Login by entering UAN number and password. Then your account will open. In this, the option of claim will appear on going to online services. On clicking on it, a new page will open.
Before withdrawing money from PF account, select your account. After this, fill the reason for withdrawal along with the details of the amount required to be withdrawn. After this you will see the option to upload a scanned copy of the cheque or passbook. You upload it and submit your claim. After submitting the claim, it will take three to eight days for the money to be transferred to your account. It is very simple and user-friendly.
Now you will get money from your new ATM card in one click. Withdrawing money from a savings account will also be almost the same. But there will be a limit on withdrawing money.
