NEW DELHI, OCT 16: Retirement fund body Employees’ Provident Fund Organisation (EPFO) is likely to launch online PF withdrawal facility by March end after the Supreme Court extended voluntary use of Aadhaar card to government schemes, including provident fund.
The EPFO with over five crore subscribers has been working on such a facility for online settlement of PF claims within three hours of receiving an application.
Once this is operational, subscribers can apply online for PF withdrawal, which will be transferred directly to their bank accounts.
“We have written to the Labour Ministry for approvals for starting an online PF withdrawal facility. We are hopeful of launching this by March end after yesterday’s Supreme Court ruling,” Central Provident Fund Commissioner KK Jalan said.
Yesterday, the apex court extended voluntary use of Aadhaar for schemes like MGNREGA, all types of pension schemes and provident fund, PM’s Jan Dhan Yojana.
At present, subscribers who wish to settle their accounts with the Employees’ Provident Fund Organisation (EPFO) are required to apply manually.
Jalan said, “We want to launch the PF withdrawal facility and sought certain approvals. But before launching that, we will ensure speedy verification of PF withdrawal cases of those applicants who will mention their Aadhaar in their claims.”
