The Employees' Provident Fund Organization (EPFO) is preparing to make major changes to its services, and soon, employees will be able to use UPI and ATMs to withdraw their Provident Fund (PF). The government has stated that the process is nearly complete, and this facility is expected to be available to citizens by the end of this month. This will greatly benefit the working class. Learn how much money can be withdrawn using UPI and ATMs.
Union Labor Minister Mansukh Mandaviya has also indicated that an official announcement regarding this service will be made soon. This facility will allow PF members to access funds in their accounts quickly and easily.
Currently, PF withdrawals require an online application, and after the online process, the funds typically take 15 to 20 days to be credited to the account. However, UPI and UPI-enabled ATMs can simplify this process. There is no official information available on the amount that can be withdrawn through ATMs or UPI.
According to the rules, members may be allowed to withdraw up to 75% of their total PF funds. Furthermore, members will no longer need multiple documents for identity verification. Information can be updated using Face Authentication Technology (FAT) through the Umang app.
PC: SaamTV
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