PF ATM Nuts: Now in just a few clicks you will be able to extract your PF directly from apps like PhonePe, Google Pay, Paytm and BHIM.
Employees Provident Fund Organization (EPFO) is going to make a major change in the method of PF withdrawal soon. Union labor minister Mansukh Mandavia Has announced that EPFO 3.0 Under this, employees will now be able to remove their PF directly from the ATM. This new system will eliminate long formalities, going to offices and requirement of employer's approval.
Earlier, PF had to undergo several steps to withdraw the amount, including the employer's approval and waiting for 2-3 days. but now EPFO 3.0 Under this process will be as easy as withdrawing money from the bank account.
Now employee ATM Will be able to withdraw your PF money from. Your PF account will be linked to the ATM system, so that you Universal Account Number (UAN) Or you will be able to withdraw money by verifying your identity from the connected bank account.
To withdraw pf amount:
Apart from ATM, EPFO is also preparing to provide PF withdrawal facility through UPI (Unified Payments Interface). This means that you soon PhonePe, Google Pay, Paytm and BHIM For example, you will be able to remove your PF directly through apps, and immediately transfer to your bank account.
Compared to the current system, which sends PF amount in 2-3 days through NEFT or RTGS, UPI This process through A few seconds Will be fulfilled in.
EPFO customers soon Special PF ATM Card It will also be given, through which they will be able to withdraw money from their PF account. However, it is not clear which ATMs will support this new facility, but EPFO has assured it Easy and user-friend Will be made.
EPFO 3.0 The arrival of PF withdrawn process completely Digital and quick Will be done. This will be especially beneficial for employees who require immediate money.
Government soon Launch date And will provide information about the whole process.
Stay to update about this new and convenient PF withdrawal system!
