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There is great news for 7 crore PF account holders. Soon the claims of Employees' Provident Fund Organization (EPFO) will be able to be withdrawn directly through ATM. Secretary of the Ministry of Labor and Employment, Sumitra Dawra said that EPFO ​​is working on modernizing its IT system so that this process can be made easier and faster.

He said, 'We are improving the IT structure of our PF system. Many improvements have already been made. The speed of settlement of claims has increased and unnecessary processes have been eliminated due to auto-settlement.

IT 2.1 version will come in January 2025

According to Sumitra Dawra, the target is to bring the IT structure of EPFO ​​​​to the level of the banking system. By January 2025, the new version of EPFO ​​​​IT 2.1 will be launched. He said, 'Under this new system, PF claimants, beneficiaries or insured persons will be able to withdraw their money directly through ATM. There will be minimal human intervention in this process, which will save time and increase transparency.'

Why is this change special?

Fast settlement of claims:

At present, it takes time to settle PF claims, but this new system will make it automated and faster.

Facility-like banking system:

Just as the banking system has made transactions easy, PF withdrawal will also become simple and accessible.

People's interference will be less:

This will reduce cases of fraud and irregularities.

Vision of EPFO

The secretary also said that this is just the beginning. In the future, the IT system of EPFO ​​will be further improved so that PF account holders can get every facility on their mobile or nearest ATM.