Now the wait for weeks is over! PF money will come directly in your hand from ATM, this gift can be found on Diwali

Friends, PF’s money is… then ours, but when it needs to be withdrawn, it seems as if you are asking for a loan from someone else! Long-wide online process, various forms and then a long wait for weeks … then the money comes in our bank account.

But now imagine, you suddenly needed money, you went to the nearby ATM, put your card, and like a bank account, your PF money came directly into your hand!

This is not a dream. According to reports, the government and EPFO ​​(Employees Provident Fund Organization) are working on a similar facility, which is going to completely change the lives of crores of employed people. And the best thing? Hope this great gift Before diwali Only we can find.

After all, why is this big news?

Understand this in easy language. Till now there was only one way to withdraw PF money – to claim online. This method is not effective at all for small and immediate needs, such as medical emergency or any other sudden expenditure. By the time the money comes in the account, the need is left out.

This new facility will remove this biggest problem.

What will be the benefits of this new facility?

1. Money immediately in hand: This is the biggest advantage. Now you will not have to wait for weeks for money. If needed, you will be able to withdraw cash from ATM immediately.
2. Small money will have to be easier: Suppose you need only 10,000 out of your PF 5 lakh rupees. For this, who should take the mess of the entire online claim? With the new facility, you will be able to withdraw even small amounts easily.
3. Blessing in Medical Emergency: This facility will not be less than a boon when someone is suddenly hospitalized. You can pay the bill of treatment by withdrawing money directly from the ATM without any delay.
4. Easy for everyone: It will be very easy for those who find the online process difficult. Just as money is withdrawn from the bank, PF’s money will also be withdrawn.

How will this facility work?

According to the information that has come out so far, EPFO ​​is preparing a system with banks to connect your PF account directly to ATM.

For this, perhaps your UAN (Universal Account Number) will be linked to your bank’s debit card. When you use your card in ATM, you can get the option to withdraw money from the bank account as well as PF account.

In which stage is it right now?

Currently, work is underway at technical level on this scheme to make it completely safe. The government is trying to launch it as soon as possible, possibly by Diwali, so that crores of employees can get a big relief in the festive season.

This can really prove to be a game-changer step, which will make PF a true emergency fund by just removing retirement saving, which will actually be available on your ‘one click’ or ‘a card swipe’.