Union Labour Minister Mansukh Mandaviya announced a significant update on the Employees’ Provident Fund Organisation (EPFO) during an event in Hyderabad. He revealed that EPFO is introducing banking-like services, including ATM-based withdrawals and several digital features aimed at simplifying transactions.
What is EPFO 3.0?
EPFO 3.0 represents a major technological upgrade to the traditional EPFO system. Currently, withdrawing PF funds is a cumbersome process involving extensive paperwork and employer approvals. With EPFO 3.0, employees will no longer need to navigate lengthy documentation or visit EPF offices. Instead, they will be able to withdraw their PF money instantly through ATMs, just like a regular bank withdrawal.
Also Read: EPFO New Rules 2025: When You Can Start Withdrawing Money From ATMs? Equity Investments To Apps – Top 5 Changes To Impact Your Account
How To Manage EPFO Through UAN
Mansukh Mandaviya explained that EPFO 3.0 will make the system similar to a bank. The system allows subscribers to manage their accounts easily using their Universal Account Number (UAN). However, details regarding withdrawal limits from ATMs will be announced later.
Which Services Are Set to Change?
EPFO 3.0 is a significant upgrade aimed at making fund withdrawals, claim settlements, and pension transfers faster and more seamless. This modernization effort focuses on eliminating delays and enhancing user convenience.
With new digital tools, managing PF accounts will become much easier. Union Labour Minister Mansukh Mandaviya emphasized that since the money in EPFO accounts rightfully belongs to employees, they should have unrestricted access to it whenever needed—without bureaucratic hurdles or long waiting periods.
EPFO 3.0 is a significant upgrade aimed at making fund withdrawals, claim settlements, and pension transfers faster and more seamless. This modernization effort focuses on eliminating delays and enhancing user convenience.
With new digital tools, managing PF accounts will become much easier. Union Labour Minister Mansukh Mandaviya emphasized that since the money in EPFO accounts rightfully belongs to employees, they should have unrestricted access to it whenever needed—without bureaucratic hurdles or long waiting periods.
EPFO 3.0: The upgraded system will introduce a special PF withdrawal card, functioning just like a regular ATM card. This means you’ll be able to access your EPF funds directly from an ATM whenever needed, without the hassle of paperwork or long waiting periods.
Here’s how you can withdraw your PF amount from an ATM:
- Go to an EPFO-approved ATM
- Use the card linked to your EPFO Universal Account Number (UAN)
- Input your PIN and choose the withdrawal option
- Select the amount you wish to withdraw and confirm
- Get your PF withdrawal instantly from the ATM
