June 6, 2025 : If you work in a private job and have a PF account, this news will make you happy. EPFO members will soon be able to withdraw up to ₹1 lakh or 50% of their money from their PF account. PF members will be able to withdraw this money via UPI or ATM. It is expected that from August onwards, millions of EPFO members will start receiving this facility. With this facility, PF account holders will be able to withdraw money from ATMs or transfer money through UPI during emergencies.
Currently, the entire process takes 10 to 15 days…
Right now, in any emergency, EPFO members have to apply online to withdraw money. After that, the request is verified. This whole process takes about 10 to 15 days. Usually, it takes about 15 days for the money to be credited to the account. But after the latest IT software 3.0 introduced by EPFO, any time-related delays will be eliminated. After this facility is introduced, no application will be needed to withdraw up to ₹1 lakh.
Up to ₹1 lakh can be withdrawn from ATMs…
According to current rules, you can withdraw 50% of the amount available in your account during emergencies. Now, under the new facility, up to ₹1 lakh can be withdrawn from ATMs. If your account balance is less than ₹2 lakhs, you can withdraw 50% of the available amount. This means you won’t need any approval to withdraw money up to a certain limit. Under the new system, EPFO members will be issued an EPF withdrawal card. With this, members will be able to withdraw money through ATM or UPI.
Work is underway on software related to the new system…
All members will benefit from this because they will be able to view their EPFO account directly via a UPI interface and make auto-claims. If the customer is eligible, approval will be instant, and money will be credited to the account immediately. With this PF withdrawal facility, EPFO members will have an easier experience. Under the supervision of the Ministry of Labour and Employment, EPFO is working on software related to this new system. Discussions regarding banking process rules have already been held with the RBI.
When will the ATM PF withdrawal facility start?
According to a news report published in Hindustan newspaper, six modules have been prepared for the software. Trials for three of these have been successful. Work is currently ongoing for trials of two modules. One trial is still pending. It is expected that by August, after completing all trials, the new system will be launched. In the initial phase, this facility will be started by EPFO in some cities. It is expected that by the end of the year, this facility will also be extended to other cities. Through this, you will be able to check your PF account balance, get statements, and avail auto-claim services.
Summary: EPFO has prepared to launch a new facility under which PF account holders will be able to withdraw up to ₹1 lakh within minutes.