PF withdrawal through ATMs on cards, EPFO decision likely soon

Withdrawal of provident fund from ATM latest news

PF Withdrawal Via ATM Latest Updates: You may soon be able to withdraw your Provident Fund (PF) through ATMs. In an interview with news agency ANI, Labour Secretary Sumita Dawra said that EPFO subscribers will be able to withdraw their PFs via ATMs as early as 2025. Elaborating on the development, Dawra said that the Ministry of Labour is in the process of upgrading the entire IT services. This will help the workforce across India registered with the EPFO.

EPFO News: Who is eligible to withdraw PF via ATMs?

As per Dawra, all the subscribers or those who are insured will be eligible for the ATM PF withdrawal. Latest media reports say that the withdrawal of provident fund will be limited to 50 percent of the total balance available for the beneficiary.

EPFO News: How the withdrawal PF via ATMs works

While the details are yet to be announced, it should be noted that EPFO does allow a beneficiary to link their chosen bank account with their EPF accounts. However, no rules have been announced regarding the withdrawal of PF from ATMs. So, it is still not clear whether EPFO will announce a separate system altogether or use the bank accounts linked to the EPF accounts for the ATM withdrawal.

EPFO News: When will you be able to withdraw your PF from ATM?

While the Labour Secretary has not given a concrete timeline, a report by ET Now says that the system will be rolled out across India sometime in May or June next year.

EPFO News: What forms are needed to withdraw PFs?

While the ATM withdrawal system is still a feature of near future, claimants can withdraw their PF via a simple process. Any EPF subscriber who wishes to withdraw provident fund should have these forms:

- Form 10-C that has details regarding pension withdrawal benefit
- Form 31 which has details of PF Part withdrawal that will be allowed
- And lastly, Form 19, which is for the PF final settlement.