EPFO Subscribers to Access Claims via ATMs Soon

EPFO subscribers may soon withdraw claim amounts directly from ATMs. Labour Secretary Sumita Dawra indicated IT upgrades are underway to facilitate this. Claims will be capped at 50% of EPF, with a max of Rs 7 lakh available under the EDLI scheme. No response from the labour ministry on inquiries.

Subscribers of the Employees' Provident Fund Organisation (EPFO) could soon have the ability to withdraw their claim amounts directly from ATMs, according to a high-ranking official.

Union Labour Secretary Sumita Dawra has revealed that the labour ministry is working on upgrading its information technology infrastructure to provide better services for the Indian workforce.

This initiative could allow claimants, beneficiaries, or insured individuals to access their claim money through ATMs. The report indicates the withdrawal limit will be half of the Employees' Provident Fund (EPF), with up to Rs 7 lakh available under the Employees' Deposit Linked Insurance (EDLI) scheme for heirs of deceased subscribers.

(With inputs from agencies.)