These 7 crore PF subscribers are now being given a big gift by the Employees Provident Fund Organization. Any PF account holder had to withdraw money first. So it took a lot of time for that.
But now after the new rules of EPFO, money can be withdrawn only through ATM card. All PF account holders are expected to get this facility in the month of January next year.
At present, after the PF claim, it takes 7 to 10 days to withdraw money from the PF account, but with the facility of ATM card, it will be very convenient for the PF account holders.
Questions are coming in the minds of many people. For this, the debit card of a normal bank will be linked or a separate card will be issued. So, according to the information received from the Labor Ministry, any debit card like ATM card can be issued for this facility.
Work is being done to upgrade the IT system for this work. Sumit Dawra, Labor Secretary, Ministry of Labor and Employment, said that after the IT 2.1 upgrade next year, the IT infrastructure of EPFO will be at par with the banking system.
After IT system upgrade, EPFO account can become like any bank account. In which withdrawal of money can be done through a special debit card issued by EPFO, just like an ATM card. However, no information has been received about what the limit will be for this.
Published at : 13 Dec 2024 07:06 AM (IST)
