Now You Can Withdraw Up to ₹5 Lakh from Your PF Account in 72 Hours

Now, you can withdraw up to ₹5 lakh from your PF account in case of emergency or urgent needs within 72 hours. Previously, the limit was ₹1 lakh. Central Minister Mansukh Mandaviya shared this information on June 24. Earlier, the proposal was passed by the 113th meeting of the EPFO's Executive Committee (EC) held in Srinagar on March 28, as informed by Sumita Dawra, Secretary of the Ministry of Labour and Employment.

Software Will Handle the Entire Process, No Need for Officials

In the auto settlement process, PF withdrawal claims are processed automatically by the system. There is very little or no need for intervention by officers. If your UAN (Universal Account Number) is linked with Aadhaar, PAN, and bank account, and your KYC is fully updated, the system will verify your claim. This process is faster as it is fully online and IT-based. In auto settlement, claims are processed within 3-4 days.

EPFO Auto Settlement for Specific Claims

EPFO has introduced the auto settlement facility for specific types of claims like medical, education, marriage, or for buying/building a house. These claims are processed more efficiently and quickly as compared to manual settlements.

Manual Settlement Takes 15-30 Days

In manual settlement, PF claims are processed by EPFO staff. This process can take 15-30 days. To proceed, you need to fill online or offline forms (such as Form 19, 31, 10C). Afterward, EPFO employees verify your documents, KYC, and eligibility. Delays may occur if the exit date is not updated or if documents are missing. Large or complex claims (like retirement or final settlement) often require manual verification.

Soon You Will Be Able to Withdraw PF Money via UPI and ATM

According to media reports, under the EPFO 3.0 draft, employees will soon be able to withdraw PF money directly via ATM or UPI. PF account holders will be provided with a withdrawal card, which will function like a bank ATM card. A fixed amount will be allowed to be withdrawn. To use UPI, the PF account must be linked with UPI. After that, subscribers will be able to transfer PF money to their bank accounts directly.