PF Withdrawals to Go Instant as EPFO Prepares UPI-Enabled App
EPFO Set to Roll Out UPI-Based PF Transfers to Bank Accounts: The Employees’ Provident Fund Organisation (EPFO) is working on a new mobile app that is likely to be launched in April this year. Through the app, EPFO subscribers will be able to transfer money from their PF accounts directly to their bank accounts using UPI, according to a senior source.
Under the project, a portion of the EPF savings will remain protected, while subscribers will be allowed to withdraw a larger part through UPI transfers. The app will also provide services such as checking passbook balance and viewing the eligible amount available for withdrawal.
Currently, subscribers access EPF services through the EPFO portal and the Umang app, which will continue to remain available. The new app is expected to make services faster and more convenient.
The app is currently being tested, and technical issues are being fixed. Users will be able to complete transactions securely using their UPI PIN. The Labour Ministry is expected to roll out the app nationwide in April.
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