ENGLISH ਪੰਜਾਬੀ हिंदी
Chicago booked.net
+35°F
Visitors
   
Impreza
YOUR REGION YOUR PAPER A SUPPORT FOR ALL COMMUNITIES

Our Followers: 13300937 Follow Us
   View Details << Back    

EPFO Rules: Now PF money can be withdrawn through UPI and ATM, know when this facility will start

  
  
Share
  There is good news for crores of EPFO ​​​​members across the country. From June, you will be able to withdraw PF money easily through ATM and UPI. Almost all the preparations in this regard have been completed. In fact, the Ministry of Labor and Employment has approved the recommendation of the National Payments Corporation of India (NPCI). Sumita Davra, Secretary of the Ministry of Labor and Employment, made a big revelation while talking to news agency ANI. She said that PF members will be able to withdraw PF money through UPI and ATM by the end of May or June this year. An amount of Rs 1 lakh will be able to be withdrawn immediately In fact, Sumita Davra told that by the end of May or June, EPFO ​​​​members will be able to withdraw their PF money easily. They will be able to check their PF account balance directly on UPI. If eligible, you will be able to withdraw up to Rs 1 lakh immediately and choose your preferred bank account for transfer. She said that the organization has simplified the rules and expanded the withdrawal options considerably. EPFO ​​members can now withdraw funds for housing, education and marriage in addition to the existing health provisions. Benefits of relaxation in rules Sumita Dawra also informed that EPFO ​​has made significant progress in digitizing all its processes. She said that work has been done to collect 120 databases to further streamline the process of withdrawing money from PF. With this, the claim processing time has now been reduced to 3 days. She said that 95% of claims are automated and there are plans to further simplify this process. Pensioners got this benefit After the recent reforms, pensioners have also got many facilities. She said that since December till now 78 lakh pensioners have been able to withdraw money from any bank branch. Many of the earlier hurdles have now been removed, which has directly benefited the pensioners. He said that working on these reforms was not easy. EPFO ​​is adding 10-12 lakh new members every month through its 147 regional offices spread across the country. There are currently over 7.5 crore active members. He said that the upcoming UPI and ATM based PF withdrawals will prove to be an important milestone in India's digital financial transformation. This will directly benefit lakhs of people and make things easier for them.
  LATEST UPDATES











© All rights Reserved. ADBHHUT MEDIA.