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Under the project being worked on at the level of the Labour Ministry, a fixed minimum amount will be kept safe in the EPF account, while the remaining amount can be withdrawn directly from the bank account through UPI.

Your PF funds can now be withdrawn using UPI! EPFO's Features-Friendly app is coming.

EPFO New APP: Withdrawing money from the Employees' Provident Fund (EPF) will soon be easier than ever. The Employees' Provident Fund Organization (EPFO) is working on a new mobile application that will allow PF account holders to directly withdraw a portion of their funds via UPI. The app is expected to launch in April. According to news agency PTI, the initiative aims to improve digital service delivery and significantly reduce the time required for PF withdrawals.

EPFO working on new app

Under a project being developed by the Ministry of Labor, a certain minimum balance will be maintained in EPF accounts, while the remaining balance can be withdrawn directly from bank accounts via UPI. EPF members will also be able to easily check their passbook balances through this new app. Currently, checking or withdrawing PF balances requires the UAN portal or the Umang app, but these platforms will continue to function as before, and the new app will further simplify these services.

The EPFO is currently testing this system on approximately 100 dummy accounts to iron out technical glitches and test the system's capabilities. Currently, members must file a withdrawal claim to withdraw their PF funds, which often takes considerable time. However, under the auto-settlement mode, claims are settled electronically within three days of the application.

Make services easier

The EPFO has already increased the withdrawal limit under auto-settlement from ₹100,000 to ₹500,000, allowing members to quickly withdraw funds for needs such as illness, education, marriage, or home construction. The organization has approximately 80 million members, and the auto-settlement claim service was launched during COVID-19 to provide immediate relief to those facing financial hardship. While filing a claim was still necessary, the new UPI-based system is considered a major step towards making the entire process virtually instantaneous.