NewsAffair_Team
April 16, 2025 | Visakhapatnam, Andhra Pradesh
In a significant move to enhance user convenience, the Employees’ Provident Fund Organisation (EPFO) is set to introduce a new facility allowing members to withdraw their Provident Fund (PF) directly using their UPI ID. This initiative aims to simplify the withdrawal process, eliminating the need for entering complex bank details.
Key Highlights:
- UPI Integration for PF Withdrawals: EPFO members will soon be able to link their UPI ID (e.g., user@upi) directly with their EPF account, facilitating faster and more secure transactions.
- Eligibility Criteria: To utilize this feature, members must ensure their UAN is Aadhaar-seeded and verified, their mobile number is linked with Aadhaar, and their KYC details are fully updated on the EPFO portal.
- Withdrawal Process:
- Log into the EPFO Member Portal using your UAN and password.
- Navigate to ‘Online Services’ and select “Claim (Form-31, 19, 10C & 10D)”.
- Choose “UPI ID” as the payment mode and enter your verified UPI ID.
- Authenticate the claim using the OTP sent to your Aadhaar-linked mobile number.
- Track the claim status; funds are expected to be credited within 2-3 working days.
- Expanded Withdrawal Purposes: Beyond medical emergencies, members can now withdraw funds for housing, education, and marriage, providing greater financial flexibility.
- Enhanced Auto-Settlement Limit: EPFO has increased the auto-settlement limit for advance claims from Rs 1 lakh to Rs 5 lakh, aiming to expedite the claim process and reduce settlement time.
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Conclusion:
This UPI-based withdrawal facility is expected to roll out by the end of May or early June 2025, marking a significant step towards digitizing and streamlining PF transactions. Members are encouraged to update their KYC details promptly to take full advantage of this upcoming feature.
For more information and updates, visit the official EPFO website.
The Employees’ Provident Fund Organisation (EPFO) is a government body managing retirement savings for salaried employees in India. You can check your EPF balance, file claims, or update details through the official EPFO portal.
To access your Universal Account Number (UAN) services and view your passbook, visit the EPFO Member e-Sewa portal.
For step-by-step guidance on EPF withdrawal, transfer, or KYC updates, refer to the EPFO help section.
Stay updated on EPFO notifications, interest rates, and circulars on the Press Information Bureau and Ministry of Labour & Employment websites.
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