At present, EPFO already processes some advance withdrawal claims automatically. With the upcoming reform, Retirement Fund Withdrawal Automation will extend to final PF withdrawal claims as well. This will allow members to receive their funds directly in their bank accounts with minimal paperwork and quicker processing time.

Officials said the organisation also plans to automate PF account transfers when employees change jobs. This will remove the need for submitting manual forms and reduce delays in moving PF balances between accounts.

EPFO has more than seven crore subscribers in India. The automation initiative aims to improve transparency, reduce processing delays, and provide faster access to retirement savings for employees.

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Under EPFO 3.0, members can withdraw up to 75 per cent of their total balance while keeping at least 25 per cent for retirement. The minimum service requirement is now 12 months for all withdrawals, replacing the previous rules that varied by purpose.

Members no longer need to submit proof for Special Circumstances withdrawals, reducing paperwork. EPFO has also increased limits for education and marriage withdrawals to 10 and 5, respectively, giving more flexibility to members.

Stricter rules apply to final settlements. Members can apply for early settlement only 12 months after leaving a job, and pension withdrawals are allowed 36 months later. Full withdrawals after job loss are exempt from the 25 per cent minimum balance. While the changes improve efficiency, they may delay access for unemployed workers.

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Employees cited poor corporate governance, salary delays, unpaid vendor bills, and financial mismanagement as key concerns. Production reportedly halted in July, and BlackRock withdrew a planned Rs 500 crore investment. Pending dues for over 500 employees are estimated at Rs 50 crore.

Ankur Jain denied receiving any formal petition but acknowledged temporary production suspension in September. He admitted delays in paying employee salaries and statutory taxes, citing restructuring efforts. The company has reduced operations to fewer states to cut costs and improve margins, reducing headcount by nearly 50% over 15 months.

B9 Beverages reported a net loss of Rs 748 crore in FY24 on revenue of Rs 638 crore. Sales fell to 6–7 million cases from 9 million in FY23. Employees remain concerned about delayed salaries and pending Provident Fund and TDS payments. The company has yet to file its FY25 financial results.

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The Central Board of Trustees (CBT) will meet in October 2025 to decide the maximum withdrawal limit per transaction, ensuring smooth implementation of this facility. Although the service was originally scheduled to be rolled out in June 2025, several operational and logistical challenges caused delays.

Currently, EPFO manages accounts for 78 million members across India, and this initiative is expected to enhance convenience for a large segment of the workforce. The move reflects EPFO’s efforts to modernize its services and make PF fund access more user-friendly and efficient.

The post EPFO to Allow PF Withdrawals via ATMs from January 2026 appeared first on India Podcast.

Around 9.79 lakh new subscribers were enrolled in July. Most belong to the 18-25 age group, contributing 61.06 per cent of new members, reflecting first-time job seekers joining the workforce. Net payroll additions in this age group stood at 9.13 lakh, up 4.09 per cent from last year.

Around 16.43 lakh members rejoined EPFO after switching jobs, showing a 12.12 per cent growth year-on-year. They transferred their accumulations instead of taking final settlements, ensuring long-term financial security and social protection.

Female participation rose with 2.80 lakh new female subscribers. Net female payroll additions reached 4.42 lakh, showing inclusive workforce growth. Maharashtra led with 20.47 per cent of net payroll, while Karnataka, Tamil Nadu, Gujarat, Haryana, Delhi, Telangana, and Uttar Pradesh also contributed significantly.

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