EPFO 3.0: Soon, Withdraw Your PF Amount Directly from ATMs

The Employees' Provident Fund Organisation (EPFO) is ready to introduce EPFO 3.0, a newer system that will enable subscribers to withdraw their provident fund (PF) straight from ATMs—providing a banking-like experience for millions of subscribers.

Big Change in PF Withdrawals
Union Labour Minister Mansukh Mandaviya made the announcement while inaugurating an event in Hyderabad, emphasizing the way this change will provide higher convenience, speedier transactions, and better digital services for EPFO members.

In a few days, the EPFO version 3.0 will be launched. The EPFO would be working in the same way as a bank. Subscribers would be able to conduct all the transactions very smoothly through a Universal Account Number (UAN)," Mandaviya declared.

What EPFO 3.0 Offers to Subscribers
Direct ATM Withdrawals – Members will have access to their PF money similar to how they withdraw cash from a bank account, without the need for paperwork and employer approval.
Faster Processing – Settlement of claims, pension settlements, and withdrawals will become much faster and efficient.

App-Based Management – There will be a specific EPFO 3.0 app, which should come out in May or June, where individuals can easily see their balances, view transactions, and withdraw their money.

Decreased Complaints – The reforms implemented recently have already enhanced the efficiency of the EPFO, and the complaints are reduced as well as disposal of grievances such as name change and pension becomes quick.

Though details regarding withdrawal limits at ATMs are still to be announced, this revolutionary move guarantees that workers are in complete control of their hard-earned money, with the freedom to withdraw it at any time, anywhere, without any undue delay.

With EPFO 3.0, provident fund management is going to become more efficient, easy to use, and hassle-free than ever