EPFO Brings ATM Access to Your Provident Fund

EPFO members might soon access their provident fund directly from ATMs post-settlement. Currently, beneficiaries wait 7-10 days post-claim. With a focus on IT upgrades by 2025, EPFO aims to provide enhanced services akin to banks, including issuing dedicated cards for over 7 crore subscribers.

EPFO members may soon enjoy the convenience of accessing their provident fund money directly from ATMs once their claims are settled.

Right now, beneficiaries experience a waiting period of 7-10 days before funds are transferred to their bank accounts. To align with banking standards, EPFO aims to issue dedicated cards for ATM withdrawals.

Efforts include upgrading IT infrastructure, with completion expected by 2025, to enhance efficiency and transparency for its 7 crore subscribers.

(With inputs from agencies.)