Withdrawing Provident Fund (PF) money is set to become much simpler and faster. The Employees’ Provident Fund Organisation (EPFO) is preparing to introduce a new UPI-based withdrawal system that will allow members to access their PF funds directly through a mobile app.
When Will UPI-Based PF Withdrawal Start?
According to official sources, EPFO is planning to launch this new facility in April this year.
Government’s Plan for Faster EPF Services
The Ministry of Labour is working on a system where:
- A certain portion of EPF savings will remain secured
- The eligible portion can be withdrawn using UPI linked to a bank account
This move aims to make EPFO services as smooth and efficient as banking services.
Why EPFO Is Introducing UPI Withdrawal
EPFO does not have a banking licence, which means it cannot allow direct withdrawals like banks do.
Making EPFO Services Bank-Like
The government wants EPFO to:
- Offer faster settlements
- Ensure secure fund transfers
- Provide convenient digital access to members
UPI integration is a major step in this direction.
New EPFO Mobile App: What Members Should Know
EPFO is developing a new dedicated mobile application specifically for its members.
Services Available on the New App
Members will be able to:
- Check latest PF balance
- See eligible withdrawal amount
- Transfer PF money directly to their bank account via UPI
- Complete transactions securely using UPI PIN
Existing Platforms Will Still Work
- UAN Member Portal
- UMANG App
These platforms will continue, but the new app will offer better speed and improved user experience.
How UPI-Based PF Withdrawal Will Work
Step-by-Step Process
- Log in to the new EPFO mobile app
- Check your eligible PF withdrawal amount
- Select UPI as the withdrawal option
- Enter your UPI PIN to confirm
- Amount will be transferred directly to your bank account
Faster PF Settlement Through Auto-Settlement System
EPFO already uses an auto-settlement system to process eligible claims without manual intervention.
Key Features of Auto-Settlement
- Claims settled within 3 days
- No manual processing required
- Reduced paperwork and delays
Increased Withdrawal Limit
- Earlier limit: ₹1 lakh
- New limit: ₹5 lakh
This applies to withdrawals for:
- Medical emergencies
- Education
- Marriage
- Housing needs
Testing Phase Before Full Launch
Pilot Testing Underway
EPFO is currently testing the UPI-based withdrawal system on 100 dummy accounts to:
- Identify technical issues
- Improve system performance
- Ensure secure transactions
How COVID-19 Changed PF Withdrawal System
The auto-settlement system was first introduced during the COVID-19 pandemic to provide quick financial support to members.
A System That Stayed
Due to its success, EPFO:
- Expanded the auto-settlement system
- Increased withdrawal limits
- Now plans to integrate UPI for instant access
What This Means for EPF Members
Benefits of UPI-Based PF Withdrawal
- Faster access to funds
- Simple, digital process
- Secure transactions
- Less dependency on claim approvals
Once implemented, withdrawing PF money may feel as easy as making a regular UPI payment—quick, safe, and stress-free.
