PF Money withdrawal Rule: Know all the details
EPFO: There’s big news for millions of members of the Employees’ Provident Fund Organisation (EPFO). The Ministry of Labour is preparing to introduce ATM and UPI facilities for withdrawing money from EPF accounts. This facility could be implemented by March 2026. After this, EPFO members will be able to avoid the lengthy process and paperwork involved in withdrawing money from their PF accounts. The introduction of ATM and UPI services for EPF withdrawals will allow employees to access funds quickly in case of emergencies.
Union Labour Minister Mansukh Mandaviya stated that the government has already allowed withdrawals of up to 75 percent of the amount from the Employees’ Provident Fund (EPF). To make this process even easier, a facility for direct withdrawals through ATMs and UPI is being introduced. He said that the money in the EPF account belongs to the member, but the current system requires filling out several forms, which causes inconvenience to people.
Currently, withdrawing money from the Employees’ Provident Fund (EPF) requires an online portal, forms, and often employer approval. This causes delays and difficulties for many members. The government aims to make PF withdrawals as easy as withdrawing money from a bank account using an ATM or UPI. Once ATM and UPI withdrawal facilities for EPF are introduced, members will no longer have to depend on EPFO offices or their employers to access their funds. This will save time and reduce delays in claim settlements.
