The central government is considering a major step to help Provident Fund (PF) account holders.
It may soon allow people to withdraw PF money directly from ATMs, possibly before Diwali.
A key meeting will be held on October 10–11, chaired by Labor and Employment Minister Mansukh Mandaviya, where this proposal will be discussed.
The move is aimed at giving more financial flexibility to over 8 crore EPFO subscribers during the festive season.
Proposal to Increase Minimum Pension Also on the Agenda
In the same meeting, the EPFO board may also discuss another important proposal — to increase the minimum monthly pension from the current ₹1,000 to ₹1,500–₹2,500.
This has been a long-standing demand of trade unions, and if approved, it will benefit a large number of pensioners across the country.
