EPFO: Good news for 7.5 crore employees, they can withdraw Rs 5 lakh from their PF account without any paperwork..

Claim settlement will also happen in 3-4 days instead of 10 days. At the same time, now PF auto-claim facility will also be available for marriage, education, and buying a house. Earlier auto-claim was available only for illness and hospital expenses. According to a report by news agency ANI, this decision was taken in the 113th meeting of the Central Board of Trustees (CBT) chaired by Sumita Dawra, Secretary, Ministry of Labor and Employment. This meeting was held in Srinagar on 28 March.

This facility will start as soon as the Central Board of Trustees (CBT) of the Employees’ Provident Fund Organization approves it. After employees will be able to withdraw their PF easily. Last week, Labor and Employment Secretary Sumita Dawra said that the ministry has approved the recommendation of NPCI and members can withdraw PF through UPI and ATM by the end of May or June this year.

What will be the benefit?

According to EPFO, 95 percent of claims will now be auto-processed. This will give employees PF money immediately. Paperwork will be reduced. Earlier there were 27 steps to withdraw the PF claim, now there are only 18, and soon only six steps will be left.

Withdrawal from UPI and ATM

The Employees’ Provident Fund Organization (EPFO) is going to make a big change by the end of May or early June 2025. With this new change, EPFO ​​​​members will be able to withdraw their Provident Fund (PF) instantly through UPI and ATM. Labor and Employment Ministry Secretary Sumita Dawra gave this information a few days ago. He said that members will also be able to see their PF balance directly on the UPI platform and transfer funds to their preferred bank accounts without any delay. This will make it easier for employees to access their money in times of need.