Technology

You will be able to withdraw money deposited in PF through ATM and UPI… This facility can start from April.

By Samira Vishwas

New Delhi. Employees’ Provident Fund Organization will soon provide its employees the facility to withdraw the amount deposited in their Provident Fund (PF) account through ATM card and UPI. This facility is expected to be operational by April. The organization is making its system advanced for this.

Last year, the Ministry of Labor and Employment had announced that the withdrawal facility would be made easier for EPFO ​​members. Members can withdraw a certain amount from the deposited amount without any permission. For this, withdrawal facility will be provided from ATM.

    • Trial of all modules of EPFO ​​3.0 completed
    Sources say that all the modules of EPFO ​​3.0 have been tested. At present there is no technical problem, but even then EPFO ​​wants to completely ensure that there is no technical problem after coming into use. For this, testing is being done from every angle.

    Keep in mind that just a few months ago, EPFO ​​has provided the facility for members to withdraw up to 75 percent of the amount deposited in the PF account. In such a situation, in future the members will be able to get the facility of easy withdrawal in case of immediate need.

    Changes in investment and withdrawal rules in NPS Vatsalya Scheme
    If you have invested or are thinking of investing in NPS Vatsalya Yojana for the bright future of your child, then know that the Pension Fund Regulatory and Development Authority has issued new guidelines regarding this scheme started for children.

    These changes have been made specifically with respect to investments, withdrawals, asset allocation, and tax benefits for minor children, to make the scheme more flexible, transparent and useful for families. Clear guidelines for partial withdrawals have made the scheme useful even for temporary needs, while higher fund allocation in equities has enhanced long-term return potential.

    NPS Vatsalya is a government pension scheme which was launched for minor children. Parents/guardians can ensure future pension for their children by investing in this account in the name of their children. The scheme was introduced in Budget 2024-25 and was officially launched on 18 September 2024. It is a long-term means of savings and investment, in which the investment continues till the age of the child is 18 years. After that age further options are available to the child.

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