Now will you be able to withdraw PF money from ATM in emergency? Government is making this new facility

News India Live, Digital Desk: Provident Fund (PF) is the biggest and most important savings of all our working people in their entire life. This money is our biggest support in bad times, especially during any medical emergency or sudden need. But we all also know how long and difficult a task it is to withdraw this money at the time of need. Even after claiming online, it takes several days, and sometimes even weeks, for the money to be credited to the account.

But now, to overcome this biggest problem of crores of employees, the government and the Employees’ Provident Fund Organization (EPFO) are working on a very big and revolutionary plan. The plan is that soon you will get some money directly from your PF account. Will be able to withdraw from ATM also

What is this whole plan?

Imagine, you suddenly need money for hospital expenses and you can immediately withdraw some money from your debit card or PF account by going to your bank’s ATM. The government’s new plan will work in a similar way.

The objective of this scheme is that employed people do not have to wait long to withdraw PF Advance, especially for needs like medical emergency. They can get immediate relief.

How will this feature work?

Although this scheme is still in its initial stage, it is believed that a new system will be created to implement it:

1. Linking of UAN and Bank Account: Your Universal Account Number (UAN) will be linked to your bank account.
2. Connection to ATM: Your same bank account is already linked to your debit/ATM card. Through the new technology, your PF account will also be linked to this network.
3. Medical Advance Facility: When you need money for medical needs, you will be able to withdraw PF advance up to a certain limit from your ATM. EPFO already provides advance facility of up to Rs 1 lakh for medical expenses. Withdrawal from ATM can be linked to this facility.

So when will this facility start?

This is the biggest question. Let us tell you that now this facility Has not started. This is currently a proposal, on which EPFO ​​and Labor Ministry are working together. Work is being done on technical and procedural aspects to get this facility off the ground. This may take a few months or more. The government wants to implement it as soon as possible so that crores of employees can benefit from it.

If this scheme turns into reality, it will be the biggest and most relief step towards social security for the working class.