Home / Business and Economy / PF Withdrawals Via UPI Soon!
PF Withdrawals Via UPI Soon!
22 May
Summary
- EPFO members can soon withdraw PF funds using UPI.
- Testing of the UPI withdrawal facility is complete.
- WhatsApp and litigation reduction are other EPFO initiatives.
The Employees Provident Fund Organisation (EPFO) is poised to implement a new system enabling members to withdraw their Provident Fund (PF) money directly through the Unified Payments Interface (UPI). This initiative, aimed at improving service delivery, has successfully completed its testing phase.
Union Labour Minister Mansukh Mandaviya announced that subscribers could soon transfer eligible PF balances instantly into their bank accounts via UPI. While a specific launch date remains unannounced, this digital advancement signifies a move towards faster and more seamless access to PF funds, mirroring the ease of everyday digital banking.
Beyond the UPI integration, the EPFO is enhancing member services through WhatsApp for increased outreach to mobile users. Additionally, the organization is undertaking a focused mission to reduce litigation and expedite the resolution of pending cases across various legal forums, including a dedicated drive for consumer court cases.
