PF Withdrawal Directly from ATM: Labour Secretary Makes Big Announcement For All EPFO Subscribers

The Labour Ministry is upgrading its IT systems to provide enhanced services to the country's massive workforce.Starting next year, EPFO subscribers will be able to withdraw their provident funds directly from ATMs, according to Labour Secretary Sumita Dawra.

"We are settling claims quickly and are working to make the process easier to improve the ease of living. A claimant, beneficiary, or insured person will be able to access their claims conveniently through ATMs, with minimal human intervention," the Labour Secretary said.

"Systems are evolving, and every two to three months, you will notice significant improvements. I believe there will be a major enhancement by January 2025," she told ANI. The Employees' Provident Fund Organisation has over 70 million active contributors.

The Labour Secretary also emphasised the government's efforts to improve EPFO services to enhance the ease of living.Regarding plans to extend social security benefits to gig workers, Dawra said progress was at an advanced stage but refrained from specifying a timeline."A lot of work has been done, and we have outlined a scheme that is now in the finalisation process," she said. These benefits could include medical health coverage, provident funds, and financial support in cases of disability.

Rules for withdrawal from EPFO

You are not allowed to withdraw PF funds, either partially or fully, while still employed.

If you have been unemployed for at least one month, you can withdraw up to 75% of your PF balance.

After two months of unemployment, you are eligible to withdraw the entire balance.