EPF members will soon get a major digital convenience. From April 1, employees can withdraw their provident fund (PF) money directly through UPI, making the process faster and more user-friendly. Officials said this new facility will benefit nearly 8 crore EPF subscribers across the country.
Under the new system, PF amounts will be transferred directly to the bank account linked with the EPF account using UPI. Members only need to enter their UPI PIN, and the money will be credited within seconds. After receiving the amount, users can either make digital payments or withdraw cash from an ATM, depending on their needs.
Faster and Simpler PF Withdrawals
At present, EPF members must submit withdrawal claims, which usually take some time to process. However, the UPI-based withdrawal system will significantly reduce delays. The Labour Ministry and the Employees’ Provident Fund Organisation (EPFO) are jointly working to implement this facility. Officials are currently resolving software-related issues to ensure a smooth rollout.
Even now, EPFO has improved the withdrawal process through its auto-settlement system. Under this system, claims get settled online within three days without any manual intervention. Recently, EPFO also increased the auto-settlement limit from ₹1 lakh to ₹5 lakh. As a result, members can quickly withdraw funds for medical treatment, education, marriage, or housing needs.
Big Boost to Digital Payments
EPFO introduced auto-settlement during the Covid-19 period to help members facing financial difficulties. Now, by adding UPI-based withdrawals, the organisation aims to make access to PF funds even easier and faster. This step marks another important move toward digital financial services.
However, members must ensure that their EPF account is properly linked with Aadhaar, bank account, and UPI ID. Only then will the withdrawal process work smoothly without delays.
Overall, the introduction of UPI-based PF withdrawals is expected to make fund access quicker, safer, and more convenient for millions of EPF members, strengthening India’s digital payment ecosystem.
For more latest updates, click here.
