When a system is started, first of all it has some flaws which are gradually rectified according to time and need. Also, by adding technology, many things have been made very easy. It includes many things, one of which is PF. Yes, recently you must have heard that Employees Provident Fund Organization i.e. EPFO is going to provide a new facility to PF account holders from next year. In this, account holders will be able to withdraw money from their PF account from ATM just like withdrawing money from bank account. But do you know how much money can be withdrawn from ATM? Has EPFO made any rules regarding this? So let us know about it.
When will you be able to withdraw money from ATM?
Union Labor Secretary Sumita Davra gave information about when people will be able to withdraw PF money from ATM. It said that we are updating the hardware for this and you will start seeing the change from January 2025. In such a situation, it is believed that PF account holders will be able to withdraw money from ATM from January. However, no fixed time limit has been given for this yet.
How much money can be withdrawn from ATM?
According to the information received from the department so far, initially the account holder will be able to withdraw 50 percent of the total amount deposited in his PF account from the ATM. However, this amount may increase further. The biggest convenience of withdrawing money from ATM is that the beneficiaries do not have to wait for several days.
Know these things:-
After the launch of the new facility for PF account holders, employees, beneficiaries and nominees will be able to withdraw their PF money from ATM.
Initially you will be able to withdraw only 50 percent of the total amount deposited in your account from the ATM.
If someone (PF account holder) dies then in such a situation the nominee will be able to withdraw money from ATM.
The family of the deceased members will get an insurance of Rs 7 lakh under the EDLI scheme, you will also be able to withdraw that money from ATM.
