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PF Withdrawal Rules 2024: The Employees' Provident Fund Organization (EPFO) has given big good news for its crores of members. EPFO ​​​​has prepared to launch a big facility for its subscribers. Now you will not have to go through long processes to withdraw money from your PF account. Soon you will be able to withdraw your PF money directly from the ATM. Let us know about this new change in detail.

The Employees' Provident Fund Organization (EPFO) has made a big announcement that now its subscribers will be able to withdraw their provident fund money directly from the ATM. This facility is expected to start in January 2025.

Giving information about this, Labor Secretary Sumita Dawra said that EPFO ​​​​is settling claims quickly and is working to further simplify the process of withdrawing money from EPFO ​​​​to make people's lives easier. Now a claimant, beneficiary, or insured person will be able to easily access their claims from the ATM with minimal human intervention.

This decision is a big relief for EPFO ​​​​subscribers as now they will not have to go through a long process to withdraw their PF money.

The new facility will start in January 2025

According to the Labor Secretary, this facility is expected to start in January 2025. EPFO ​​​​is making its IT system advanced, which will give PF claimants and beneficiaries the opportunity to withdraw their deposits with minimal human intervention. From January 2025, a special card will be issued for PF withdrawal. Through this card, members will be able to withdraw money directly from their accounts using ATMs.

EPFO ​​has more than 7 crore active subscribers. The Labor Secretary has also emphasized the government's efforts to improve EPFO ​​​​services to make the lives of EPFO ​​​​subscribers easier.

EPFO ​​has a fund of 24.75 lakh crores

EPFO ​​had a fund of Rs 24.75 lakh crore as of March 31, 2024. A large part of this fund has been invested in debt and ETFs.