EPFO 3.0: The Employees’ Provident Fund Organization (EPFO) is set to implement a significant change in its system starting next month, on April 1, 2026. Indeed, with the introduction of EPFO 3.0, the process for withdrawing PF will be entirely digital and much quicker. Most notably, users will now have the ability to withdraw their PF funds directly from ATMs using UPI. Let’s explore this further…
How can you access PF money via UPI?
In fact, once the new system is in place, there will be no more lengthy procedures or waiting periods to withdraw PF. EPFO 3.0 will introduce an Instant Credit feature, enabling funds to be transferred straight to your bank account through UPI as soon as a request is made.
You will receive funds immediately after job loss.
According to the new regulations, if an employee loses their job, they will be able to withdraw 75% of their PF right away to manage daily expenses. The remaining 25% will stay secure in the account for one month. If a new job is not secured within that time frame, the user can then withdraw the remaining funds. This system will act as a safety net.
How to withdraw PF money from an ATM?
To do this, first, access the EPFO portal or the Umang app.
Next, select the UPI withdrawal option.
Enter the amount you wish to withdraw.
Then, confirm the request by entering your UPI PIN.
Once the funds are credited to your account, head to a UPI-enabled ATM.
Now, choose the QR Cash option at the ATM.
Finally, scan the QR code and withdraw your cash.
Essential requirements for withdrawing PF via UPI
However, to utilize this service, there are a few important points to keep in mind. Firstly, your UAN (Universal Account Number) must be active. Additionally, your PF account needs to be linked to Aadhaar. Moreover, your mobile number must be connected to both Aadhaar and the UPI app. Lastly, your bank KYC must be fully updated and verified by your employer.
What is the maximum amount of PF money you can withdraw through UPI and ATM?
The EPFO may set a cap on the amount you can withdraw from your PF balance via UPI or ATM, limiting it to 50% of the total funds in your account. This measure is designed to encourage members to retain some balance for use in emergencies.
Who is eligible to withdraw PF balance using ATM and UPI?
To withdraw PF money without any hassle, EPFO members must fulfill specific eligibility requirements. Members should possess an active Universal Account Number (UAN). Additionally, both the mobile number and UAN need to be in good standing. Furthermore, the UAN must be associated with KYC documents such as Aadhaar, PAN, account number, and IFSC code.
