If you're employed and have ever tried to withdraw money from your PF account, you know the time it takes from filling out the form to receiving approval is quite long. However, the EPFO ​​is now introducing a significant change under EPFO ​​3.0. This will allow you to use your PF account like a regular bank account. This means you can now withdraw money from your PF account using UPI and ATMs.

Under EPFO ​​3.0, you will soon be able to withdraw cash from ATMs or transfer money directly via UPI. This process will not require any lengthy procedures. However, you need to know how much money you can withdraw. Let's explore this in detail.

Old problems solved:
PF withdrawals that used to take several days will now take minutes. Under EPFO ​​3.0, subscribers can get an ATM card linked to their PF account, or it will be directly linked to UPI. This will allow you to check your balance and withdraw money within minutes. The money will then be transferred directly to your bank account. This change is likely to be implemented by mid-2026, which will help in emergency situations.

How much money can be withdrawn through UPI and ATM?
This is an important question. Despite easy access, you won't be able to withdraw your entire PF amount. According to reports, you will only be able to withdraw up to 50 percent of your total PF balance through UPI or ATM. This is because PF is meant to secure your retirement. If the entire amount is easily withdrawn, you may face problems in the future. Some media reports say that it will be necessary to maintain a minimum balance of 25 percent in the account at all times.

How much can be withdrawn at a time?
This is also an important point. You won't be allowed to withdraw a large amount in a single transaction. You'll be able to withdraw the maximum amount in two or three transactions. Furthermore, this ATM withdrawal limit will be limited to 50 percent of your total savings. If you need more money, you'll have to claim it the old-fashioned way.

The old rules will remain in effect

EPFO 3.0 only simplifies the process, not changes the rules. The basic rules for PF withdrawals remain the same. Withdrawals after retirement, if unemployed for more than two months, or for medical needs like home purchases and education, remain permitted.

What will change for you?
Your biggest benefit will be that you no longer have to wait days or weeks for claim processing. You'll be able to withdraw the amount you're eligible for immediately. Balance checks will also become easier through UPI. But note that PF won't function like a regular savings account. You won't be able to use it for free.

 PC:Times Now