New Delhi: The Employees’ Provident Fund Organisation (EPFO) is planning a major change that could allow members to withdraw a part of their PF savings using ATMs by January 2026. According to a report by Moneycontrol, EPFO’s top decision-making body, the Central Board of Trustees (CBT), may approve this facility in its next meeting, which is likely to be held in the second week of October.
Infrastructure Ready, Limits Under Discussion
A CBT member told Moneycontrol that EPFO’s IT systems are ready to handle ATM-based withdrawals. However, there will be limits on how much money can be withdrawn, and the final rules are still being discussed. EPFO currently manages a total corpus of over Rs 28 lakh crore, and has more than 7.8 crore active members.
Govt’s Plan: Easier Access to PF Savings
The government wants to make it easier for employees to access their own savings during emergencies. For this, EPFO is also in talks with banks and the Reserve Bank of India (RBI). It is likely that members will get a special PF card that can be used to withdraw money from ATMs.
Bigger Claim Limits Already Implemented
Earlier this year, EPFO increased the automatic claim settlement limit from Rs 1 lakh to Rs 5 lakh. This system uses algorithms and digital checks to approve claims faster, without manual verification.
Experts believe this ATM withdrawal feature will be helpful in emergency situations, giving members instant access to their funds. However, the success of the plan will depend on digital infrastructure, security measures, and coordination with banks and payment networks.
