New Delhi | Subscribers of the retirement fund body EPFO may soon be able to withdraw money from their accounts through ATMs, a top official said.
Union Labour Secretary Sumita Dawra has reportedly stated in a media report that the labour ministry is upgrading information technology infrastructure to provide enhanced services to the Indian workforce.
She further said that claimants, beneficiaries or insured individuals will be able to access their claims through an ATM.
According to the media report, the withdrawal will be capped at 50 per cent of the Employees' Provident Fund (EPF).
A maximum of Rs 7 lakh is provided under Employees' Deposit Linked Insurance (EDLI) scheme run by the EPFO to the heirs of deceased subscribers.
Thus the heir of the deceased EPFO subscriber may also be able to use ATMs to withdraw the settled claim.
However, the PTI query about the report sent to labour ministry officials did not elicit any response.
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