In a groundbreaking move for EPFO subscribers, the Ministry of Labour is set to introduce a new feature that will allow members to withdraw their provident fund (PF) money directly from ATMs. As part of the upcoming EPFO 3.0 initiative, subscribers will be issued EPFO-specific ATM cards, enabling them to access up to 50% of their total deposits. This game-changing service is expected to be available by mid-2025.
The upgrade is part of a broader modernization effort aimed at increasing convenience for the Indian workforce. Alongside ATM withdrawals, the new EPFO system will also enable members to contribute more voluntarily to their PF and convert their savings into pensions. These initiatives aim to streamline processes and enhance the overall financial security of subscribers.
