In a significant update for over 70 million active Employees’ Provident Fund Organisation (EPFO) contributors, the Labour Ministry has announced that starting in 2025, subscribers will be able to withdraw their Provident Fund (PF) through ATMs. Labour Ministry Secretary Sumita Dawra revealed this on Wednesday, highlighting ongoing upgrades to the ministry’s IT systems aimed at improving service delivery for the country’s vast workforce.
The new feature will allow beneficiaries to access their PF claims conveniently, with minimal human intervention, facilitating quicker and easier withdrawals. Dawra emphasized that the ministry’s IT systems are undergoing continuous improvements, and users can expect noticeable changes every few months, with significant enhancements expected by January 2025.
Previously, the feature was projected to launch between May and June 2025, according to reports. This initiative is part of the government’s broader focus on enhancing EPFO services and improving ease of living for citizens.
In addition to this upgrade, the Labour Ministry is considering several other reforms, including the removal of the 12% cap on PF contributions. This change would allow employees to contribute more freely to their PF accounts. Efforts are also underway to extend social security benefits to gig workers, including medical coverage, provident funds, and financial support for disabilities.
The ministry is considering increasing the salary limit for the EPF scheme, which it last revised in September 2024, when it raised the limit from ₹6,500 to ₹15,000. Discussions on these proposed changes are still in the early stages.
Furthermore, the government is working on creating a framework for providing social security and welfare benefits to gig and platform workers, a provision outlined in the Code on Social Security, 2020. These developments reflect the government’s commitment to improving labor welfare, as evidenced by the recent drop in the unemployment rate from 6% in 2017 to 3.2% now. Additionally, the Worker Participation Ratio continues to rise, signaling positive trends in employment and workforce participation.
 contributors, the Labour Ministry has announced that starting in 2025, subscribers will be able to withdraw their Provident Fund (PF) through ATMs. Labour Ministry Secretary Sumita Dawra revealed this on Wednesday, highlighting ongoing upgrades to the ministry's IT systems aimed at improving service delivery for the country's vast workforce.){kind=link}