Top News

• EPFO is launching a new ‘Super App’
• which can quickly remove ‘PF’
• Money will be deposited directly into the account through UPI

EPF Withdrawal via UPI: There is important and good news for EPFO ​​members. Now there is no need to stand in queue to withdraw PF. Because Employees Provident Fund Organization (EPFO) members will be able to receive their PF funds directly into their bank accounts using the UPI payment gateway through a new mobile application that will be launched in April this year. According to sources, the Labor Ministry is working on a project under which a certain portion of EPF funds will be secured, while a larger portion will be available for withdrawal through bank accounts through the Unified Payments Interface (UPI).

The source further said that the Employees’ Provident Fund Organization (EPFO) will introduce a new mobile app through which members can withdraw funds using the UPI gateway and avail other services like passbook balance. Currently, members use the Universal Account Number (UAN) portal or the Umang app to access their EPF accounts and avail services. While these services will be available on both platforms, the new dedicated app will improve access and delivery of services to EPFO ​​members. Due to which senior citizens will not run away.

As per the information received, customers will be able to view the eligible EPF balance available for transfer to their bank accounts through the mobile app. They will be allowed to use their linked UPI PIN to ensure secure transfer of funds to bank accounts. EPFO is currently testing this service. The Ministry of Labor is expected to launch the app on a large scale in April this year. EPFO, which has around 8 crore members, launched an online automated settlement system for advance claims to provide immediate relief to those in financial distress during the Covid-19 pandemic.

Disclaimer: This is an automated news feed of Navrastra newspaper. That navarashtra.com Not edited by staff.