New Delhi: Starting January 2026, EPF subscribers might be able to access their provident fund savings directly from ATMs. The Employees’ Provident Fund Organisation (EPFO) is expected to introduce this convenient facility at the beginning of the new year, making it easier for members to withdraw funds when needed, according to a report by Moneycontrol.
The report also mentioned that the EPFO’s Central Board of Trustees (CBT) is expected to approve the ATM withdrawal facility in its upcoming board meeting, scheduled for the second week of October. The CBT serves as the top decision-making body of the EPFO.
A member of the CBT told Moneycontrol, “We’ve learnt that the IT infrastructure of the EPFO is ready to allow for such transactions.” The person added, “There will be a withdrawal limit from ATMs, but this has to be discussed.”
Current PF Withdrawal Process and Corpus
At present, withdrawing PF requires filing claims and waiting for them to be processed. The EPFO manages a massive corpus of around Rs 27 lakh crore and offers an interest rate of 8.25%, backed by a sovereign guarantee. In FY 2024-25, it collected over Rs 3.41 lakh crore in contributions through 1.25 crore electronic challan cum returns (ECRs) filed by employers.
EPFO Launches ‘Passbook Lite’ for Easier Access
Last week, Union Labour Minister Mansukh Mandaviya highlighted key reforms by the Employees’ Provident Fund Organisation (EPFO) aimed at providing efficient, transparent, and user-friendly services to members. On September 18, the EPFO introduced a new feature called ‘Passbook Lite’ on its member portal. This tool allows members to quickly view a summary of their contributions, withdrawals, and balance directly on the portal, without the need to access the full passbook separately.
Online Access to Annexure K for Transparent PF Transfers
The minister also introduced online access to Annexure K (Transfer Certificate) to make PF transfers more transparent. Currently, when employees switch jobs, their PF accounts are transferred to the new employer’s PF office using Form 13 online. After the transfer, the previous PF office generates a Transfer Certificate (Annexure K) and sends it to the new PF office. This new facility allows members to access Annexure K online, ensuring smoother and more transparent transfers.
Members Can Now Download Annexure K Directly
Earlier, Annexure K was shared only between PF offices and was available to members only upon request. With the new reform, members can directly download Annexure K in PDF format from the EPFO Member Portal. Additionally, the EPFO has streamlined its approval process by delegating powers that previously rested with RPFC/Officer-in-Charge to Assistant PF Commissioners and lower levels in a structured, tiered manner, making procedures faster and more efficient.
Currently, services like PF transfers, settlements, advances, and refunds require approval from higher-level officers (RPFC/Officer-in-Charge). This multi-step approval process often caused delays and longer processing times for members’ claims.