EPFO Update: If you are a salaried employee, this news could be very important for you. Every month, a portion of your salary is deducted as PF (Provident Fund). EPFO, the organization that manages PF accounts, has made the process of withdrawing money from PF accounts much easier for its millions of members. With this new EPFO facility, there will be no need for online claims, document uploads, and waiting for many days. The hassle of visiting EPFO offices to withdraw money will also be eliminated.
UPI facility for PF withdrawal
According to reports, EPFO has implemented this new facility. The Ministry of Labour is working on a system where a small portion of the PF will remain securely locked, and the remaining amount can be withdrawn instantly when needed. This will ensure that employees’ retirement savings remain intact and they don’t face financial difficulties in emergencies.
Read Here: Big Update for CBSE Students – Class 10 and 12 Admit Card 2026 Out Before Exams cbse.gov.in
Why will UPI make PF withdrawal easier?
After the implementation of the new system, the PF withdrawal process will change completely. Currently, claim settlements take 3 to 15 days, but with UPI, this can be done in just a few minutes. EPFO is making the rules simpler and more practical so that employees can access their money without any hassle.
Withdrawal facility, even with short job tenure
Significant changes have also been made to the PF rules. Now, only 12 months of service will be sufficient for a partial withdrawal. Many of the previously existing complex conditions have been removed, and the rules have now been divided into only three main categories, including essential needs, housing-related expenses, and special circumstances.
Checking the EPF balance is necessary before using the UPI facility
Before using the UPI facility for PF withdrawal, it is important to know how much money is deposited in your EPF account. You don’t need to go anywhere for this; you can check your balance from home in several ways.
Read Here: Train Cancelled List February- Affected Trains, Dates and Routes
Read Here: Renault Mini-Duster Compact SUV Coming Soon – Tata Nexon Rival with Turbo Petrol Engine
You can view your passbook and latest contributions through the EPFO Member Portal
You can find out your balance in a few seconds by entering your UAN and OTP on the UMANG app. By giving a missed call to 9966044425 from your registered mobile number, you can get your balance information via SMS.
Sending “EPFOHO UAN ENG” to 7738299899 will also provide details of your balance and last contribution.
Important points for EPFO members
For any PF-related service, your UAN must be active. Your mobile number should be linked to your EPFO record. The employer contributes 12 percent of your basic salary to the EPF. If there is no contribution for 6 months, the account may become inactive, although interest continues to accrue. The interest rate for EPF for the financial year 2024-25 has been fixed at 8.25 percent.
Overall benefits
With the introduction of the PF withdrawal facility through UPI, the entire EPFO system will become faster, more transparent, and extremely convenient for employees. This step will not only reduce the hassles for employees but can also prove to be a major and significant change towards Digital India.
Related Stories
Entertainment
Education
Business
