So, for those who are members of EPFO, here is a good news. You should know that EPFO (the new rules of EPFO) is really taking some good steps in improving its IT functioning.
The measures are being taken so that not many problems are faced by these employed people who are members of the EPFO. You can now do many tasks related to EPFO sitting at home. If you want to get these services, you need not line up in the offices.
IT systems will be better
According to the information, next year, that is, in 2025, the IT infrastructure of EPFO will be compatible with what a banking setup already is, until IT 2.1 upgrade is accomplished. This will in turn allow only claimants, beneficiaries, and insured persons access to users to their PF funds, which are the rules that apply to withdrawing PF online. EPFO has also planned to improve the IT system against this. Also in the coming time, PF money will be withdrawn from ATM. Which will be very beneficial to the customers.
The new facility will work like this
When EPFO improves the IT system, you will get a PF withdrawal (PF withdrawal news) card, which will be like an ATM card. You will be able to withdraw money from ATM with this card. But there will be a limit on this withdrawal.
It is believed that you will be able to withdraw only fifty percent of PF balance from ATM. With IT reform, efforts can also be made to eliminate unnecessary processes. Let us tell you that EPFO is currently giving benefits to more than 7 crore active users.
You can withdraw this much percentage of the deposit amount-
Still, if you want to withdraw money, then in EPFO (PF withdrawal update) you cannot withdraw the entire amount. These rules will remain applicable till the period of working. After leaving the job, a person can withdraw 75% of his balance during a month. But after two months they get the full amount.
These people will get the benefit-
Crores of employees across the country will benefit from this decision of EPFO. This facility is available only to those people whose account is EPFO (EPFO Account benefits). After this you can easily withdraw your money. EPFO is starting this slowly. It will take some time to implement it completely.
