EPFO New Rule: EPFO has recently changed the rules regarding the withdrawal of PF money. Let us tell you that through this new rule it has become very easy to withdraw PF money; just like you withdraw money from ATM using a debit card, PF money can be withdrawn using ATM. Information for you people is that EPFO will make digital card for all employees which will facilitate the employees in withdrawing their PF money.
To inform the common people, the digital card issued by EPFO would function like a debit card. Anytime a person has the digital card of EPFO, he is free to withdraw that amount. Let us go ahead with the new rule of EPFO in detail.
Bank account should be linked to PF account
Let us tell you, if you do not have your bank account linked to the PF account, then you are not able to withdraw PF money from ATM. This year, if your PF account is opened, then this will be your bank account already linked to it; if it is older than that, please go and get the bank account linked. Otherwise, you will not be able to avail this facility, this whole new rule.
For your information, at the moment, some experts are saying that only 50% of the said total amount deposited in the PF account can be withdrawn through ATM.
Withdrawing PF money will become quite easy
As of now, we all know that there are a total of 7 crore members in the EPFO and for this new set of rules implemented by EPFO, withdrawing PF funds will be made very much easy for the employees. Well, for your information, in case of medical emergency, if the employee is absent from work for any other reason, this employee is entitled to withdraw a sum of amount which is 75% of the total deposited amount in the employee’s PF account.
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