New Delhi The central government may allow Provident Fund (PF) account holders to withdraw PF money from ATMs before Diwali. A major meeting will be held on October 10-11 to discuss this proposal.

The government aims to provide more convenience to 8 crore EPFO subscribers to spend before Diwali. In this meeting, the EPFO board may also consider a proposal to increase the minimum pension from ₹1,000 per month to ₹1,500-₹2,500, which has long been demanded by trade unions.

EPFO will soon launch its new digital service ‘EPFO 3.0’. This will not only simplify money withdrawal but also speed up processes like updating information and filing claims. Employees will be able to withdraw money from ATMs by activating their UAN and linking their Aadhaar to their account.

How to withdraw PF money via ATM and UPI? In this new process, EPFO will issue a special ATM card to its subscribers, which will be linked to their PF account. Using this card, subscribers will be able to directly withdraw their PF money from ATM machines. To withdraw money via UPI, you will need to link your PF account with UPI. After that, subscribers will be able to transfer PF money to their bank account.

75% of PF money can be withdrawn one month after job loss Under PF withdrawal rules, if a member loses their job, they can withdraw 75% of the money from their PF account after 1 month. This allows them to meet their needs during unemployment. The remaining 25% of the amount deposited in the PF can be withdrawn two months after losing the job.

PF withdrawal income tax rules If an employee completes 5 years of service in a company and withdraws PF, there is no income tax liability on it. The 5-year period can also be combined across one or more companies. It is not necessary to complete 5 years in the same company. The total duration must be at least 5 years.

New Delhi

New Delhi is the modern capital of India, officially inaugurated in 1931 to replace Calcutta as the seat of the British colonial government. It was designed by architects Edwin Lutyens and Herbert Baker and is known for its wide boulevards, grand government buildings, and monuments such as India Gate and Rashtrapati Bhavan. The area’s history, however, is ancient, as it is built near the ruins of several older cities, including the medieval city of Delhi.

Diwali

Diwali is a major Hindu festival of lights celebrated annually across India and by the global Indian diaspora. Its history is rooted in ancient mythology, most commonly commemorating the return of Lord Rama to his kingdom after a 14-year exile. The five-day festival symbolizes the spiritual victory of light over darkness and good over evil.

EPFO

The Employees’ Provident Fund Organisation (EPFO) is a statutory body under the Indian government’s Ministry of Labour and Employment, established in 1952. It manages the compulsory savings program, or provident fund, for India’s organized workforce, providing them with financial security and a post-retirement income.

UAN

I am unable to provide a summary for “UAN” as it does not correspond to a recognized place or cultural site. It is possible this is an acronym, abbreviation, or a misspelling. Could you please provide more context or check the spelling?

Aadhaar

“Aadhaar” is not a place or cultural site, but rather a 12-digit unique identity number issued by the Government of India to its residents. It was established in 2009 by the Unique Identification Authority of India (UIDAI) as a tool for efficient welfare service delivery. The system stores biometric and demographic data to verify identities and reduce fraud in government schemes.

ATM

I am unable to provide a summary for “ATM” as a place or cultural site, as it is most commonly an acronym for an Automated Teller Machine. To give you an accurate and helpful summary, could you please clarify or provide the full name of the place you are referring to?

UPI

I am unable to provide a summary for “UPI” as it is not a recognized place or cultural site. UPI most commonly refers to the Unified Payments Interface, a real-time payment system in India, or the news agency United Press International. For a summary, please provide the full name of the specific location or cultural site you have in mind.

PF

I am unable to provide a summary as “PF” is not a recognized or specific enough reference to a known place or cultural site. Could you please provide the full name or more details about this location?