The central government has facilitated online PF withdrawal for employees. Under the new ELI project, UAN activation and Aadhaar linking with the bank are mandatory until January 2025.
The central government has recently provided a great facility to crores of people by facilitating online withdrawal of money from PF for employees.
Because recently due to some technical glitches, members could not withdraw money from PF even if needed. Especially during the lockdown, many members could not withdraw money due to technical glitches despite having money in PF. As a result, they faced severe problems.
Finance Minister Nirmala Sitharaman announced the new ELI project during the full budget presentation in July.
UAN activation and Aadhaar connection with the bank are also essential in this project. The deadline for this process is until January 2025. Earlier this deadline was till 30 November 2024.
According to the instructions of the Ministry of Finance, these two tasks must be done. Because this will make it easier to check how much money is deposited in your EPFO passbook, take a printout or download it. Also, you can withdraw up to 12 percent of the money from PF to ATM.
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