Can EPFO Subscribers Withdraw PF via ATM and UPI soon? Check Updates

We can withdraw a certain amount of money from our PF account with any urgency. Now, we may be able to withdraw money using ATMs or UPI, according to the reports. The EPFO dashboard states that EPFO has about 79,824,491 members. More than 7.74 crore of these members have had their Aadhaar IDs validated by KYC. 82,11,182 of them are retirees.

According to media reports, the facility is anticipated to be operational, further facilitating and speeding up access to PF funds. By the end of May, this facility may start, ET Now revealed.

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According to reports, EPFO intends to provide members with specialized ATM cards that would allow them to access their PF funds directly from ATMs. For easy access to money, it is anticipated that these cards will be connected to members’ PF accounts, highlighted by the Mint.

There are certain requirements that EPFO members must fulfill in order to access their PF cash via UPI or an ATM. Their Universal Account Number (UAN) must be active and associated with KYC documents like Aadhaar, PAN, bank account number and IFSC code. When employers start their job, company deposit a few shares in their PF account, which is a crucial retirement fund.