EPFO 3.0 Explained: How You Can Now Withdraw Pension & PF from Any Bank
Here you go, PF tension is over! Now withdraw money from an ATM, just like you withdraw from the bank! If you are one of the 7 crore people who work in the country, then this news is very important for you! The government is going to bring EPFO 3.0, through which you will be able to withdraw your PF money easily, just like a bank.
When will EPFO 3.0 come?
The government plans that EPFO 3.0 will be launched by May or June 2025. It will have a new EPFO 3.0 mobile app, where you will be able to see your PF balance, track transactions, and withdraw money anytime. Union Minister Mansukh Mandaviya ji has given this information.
He told that people will be able to easily withdraw their PF or pension money from any bank, from anywhere, without going to the court, company or other offices.
What is EPFO 3.0?
EPFO 3.0 is a new digital system, through which the Employees Provident Fund (EPF) will work like a bank. Now you will not need to go to any office to withdraw PF money. You will be able to withdraw money directly from the ATM as per your need.
Special features of EPFO 3.0:
Your PF money will be completely under your control.
You will be able to withdraw money from an ATM anytime, anywhere.
There will be no need to go to the EPFO office or company HR.
All your account information will be available in digital form, which will make transactions easier.
No more office visits!
Labor Minister Mansukh Mandaviya ji said on March 6 that EPFO 3.0 will be launched soon. With this new feature, EPFO subscribers will be able to withdraw PF money directly from ATM. You will not need to visit offices or do paperwork.
Mandaviya ji said, “EPFO will now work like a bank. Just like you withdraw money from a bank through UPI or ATM, you will be able to withdraw PF money from your UAN (Universal Account Number).”
Benefits of EPFO 3.0:
Withdraw PF from ATM: No more long processes. You will be able to withdraw PF money from an ATM, just like you withdraw money from a bank.
No paperwork: Earlier, one had to fill a lot of forms and wait for a long time. All this will end with EPFO 3.0.
Bank-like facility: You will be able to operate your PF account like a bank. You will be able to withdraw money from PF account anytime as per your need.
Fast transactions and digital updates: EPFO will become completely digital. You will be able to track your PF balance and transaction status live from the mobile app.
What has changed?
Fast withdrawal: Earlier it used to take weeks to withdraw PF money. Now it will take only a few seconds.
No need to go to HR or office: After leaving the company, there will be no need to go to HR or office. You will be able to withdraw money directly from the ATM.
Easy process: There will be no need to fill out forms to withdraw PF money. Everything will be digital.
If you have had problems withdrawing PF money or you have heard about such problems, then EPFO 3.0 will remove all those problems. This is very good news for all working people!
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