Brief by Shorts91 Newsdesk / 04:35pm on 04 Dec 2024,Wednesday International
Employees may soon be able to withdraw up to 50% of their provident fund (PF) directly through ATMs, according to reports on EPFO’s planned upgrade to version 3.0. The Labour Ministry is reportedly developing a specialized card to facilitate these transactions, expected to roll out between May and June 2025. Currently, PF withdrawals require physical or online applications. This new feature aims to enhance accessibility and convenience for employees, enabling quicker access to funds. However, the withdrawal limit is capped at 50% of the total deposit to ensure financial stability within the system.
