You will get a separate ATM card to withdraw PF, know how this card will work

EPFO ATM Card News: There is big news for EPF account holders. Union Labor Minister Mansukh Mandaviya, while talking to journalists recently, said that the Employees’ Provident Fund Organization is ready to launch EPFO ​​3.O with its new software system by June this year.

Will get new ATM card

The Union Minister further said that after the launch of EPFO ​​3.O, a new ATM card will be issued to all those people whose PF is deducted. People will be able to easily withdraw their PF from any ATM by using this ATM card.

However, it has not been told yet whether one will have to apply somewhere for this ATM card or the government will itself send the ATM card to the address of those who have a PF account. But, it is clear that only in the year 2025, you will be able to withdraw money from your PF account from your particular PF ATM.

How much money will be withdrawn, how will the card work

Only last month, Labor Secretary Sumit Dawra had told that in the year 2025, EPFO ​​customers can withdraw their PF money through ATM card. Apart from this, Dawra had also told that account holders can withdraw up to 50 percent money from their account.

Now coming to the question that how will the ATM card with PF account work? According to the report of ET, this card will also be like a normal ATM card and will also work in the same way. Obviously, if the money is withdrawn from a normal ATM card, then its ATM card will also be like the ATM card of normal banks.

Online claim settlement takes 7-10 days

At present, subscribers of Employees’ Provident Fund Organization (EPFO) have to wait for 7 to 10 days for their online claim settlement. Once the claim is settled, the money is transferred directly to the bank account of the account holders. However, after the introduction of ATM facility, you will be able to easily withdraw money from your PF account immediately.

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