There are several crore PF accounts in India. Some rules are made by EPFO for PF account holders. From time to time, EPFO changes the rules for PF account holders. And new facilities are provided.
At present, if someone wants to withdraw from the PF account, then he has to raise a claim online. Which is done by visiting the members portal of EPFO. After this, the claim is verified by the company and then you get the money.
But now EPFO is going to change it. PF account holders will be given a card just like a debit card, through which withdrawals can be made from the PF account. For this, EPFO 3.0 has been launched.
Through EPFO 3.0, PF account holders can withdraw money from ATM card. For this, preparations have also been started by EPFO. The first phase of this scheme is expected to be completed by the end of January.
Using the ATM card available in EPFO 3.0, employees will also be able to withdraw money from their old companies. At present, complete information regarding what will be the process for this has not been revealed. At present, old companies get the option to merge the existing PF account. Where your entire amount is transferred in one go.
Let us tell you that after the implementation of EPFO 3.0 scheme, PF account can be operated just like any bank account. In this you will be able to withdraw your money easily. You won’t even have to wait for that.
Published at : 05 Jan 2025 05:19 PM (IST)
