New Delhi : Union Minister Mansukh Mandaviya announced a new digital initiative related to the Provident Fund (PF). He stated that employees will be able to link their PF accounts with UPI and ATMs before March 2026. This will mean that future PF withdrawals will be easier and more digital than ever before.

Difficulties in the current PF withdrawal process

Today, employees have to fill out numerous forms and go through a lengthy process to withdraw their PF. Often, people tire of filling out forms and are unable to complete the process. Mansukh Mandaviya stated that the government has changed the rules keeping this problem in mind. Now, employees will be able to withdraw 75 percent of their PF without any reason.

Why will 25 percent PF be kept?

The Union Minister explained that 25 percent of the PF balance will be kept secure to ensure employee job continuity. For example, if an employee withdraws the entire balance after working for seven months and then joins a new job, their PF continuity is broken. However, 10 years of continuous employment is required for a pension. Maintaining a 25 percent balance will ensure employees remain eligible for a pension and provide security until they find a new job.

How to withdraw PF through ATM and UPI

Mansukh Mandaviya stated that the government has already linked PF accounts to bank accounts, Aadhaar, and UNI. Now, preparations are underway to add debit card and ATM functionality. This means that employees will be able to withdraw their PF funds directly from ATMs before March 2026. Furthermore, PF accounts can also be linked to UPI. This will allow employees to transfer funds digitally and free them from paperwork. The minister stated that this decision was taken to simplify employees' lives and increase digital convenience.

Towards a simple and digital future

These PF-related changes are a major benefit for employees. They will no longer have to visit banks, offices, or government departments. PF withdrawals will be available anytime, anywhere through digital platforms and ATMs. This new initiative is an important step toward making government services more transparent and accessible.

Government's preparations and next steps

Mansukh Mandaviya also clarified that this plan is just the beginning. Further digital improvements will be implemented in the future, allowing PF account holders to withdraw funds quickly and securely. This initiative is considered crucial to ensuring the safety and convenience of employees' hard-earned money.

PC:Aajkhabar