EPFO PF Withdrawal ATM/UPI: There is good news for Employees’ Provident Fund (EPF) account holders. Soon, withdrawing money from the PF account will be much easier. A new software is being developed that will simplify the process. After this, EPFO subscribers will be able to withdraw money directly from their PF account using UPI or ATM.
According to reports, the central government plans to make EPF withdrawals easier. With the integration of EPF and UPI, subscribers will be able to withdraw money through a digital wallet. The blueprint for this scheme has been prepared, and discussions are underway with the National Payments Corporation of India (NPCI) to implement this facility. If all goes as planned, the facility could be available on the UPI platform within the next 2-3 months.
You Will Be Able to Withdraw PF Money Easily
According to media reports, after the integration of UPI, EPFO members will be able to receive their claimed amount directly in their digital wallet, making the withdrawal process faster and easier. It is estimated that this plan could be implemented by May-June 2025. However, the employer’s contribution will depend on the employee’s salary, ensuring that there is no extra financial burden on the employer. Once this facility is available, employees can easily receive their claim amount through a digital wallet after registration.
@socialepfo @nsitharaman
EPFO India has rejected PF Withdrawal claims twice for unnecessary reason.Rejection Reason -> WARNING – Multiple member ids for same bank account.
So what???
1) A citizen is performing Adhaar validation and sharing copy of cancelled cheque, what… pic.twitter.com/b7MYsYa0I5— Suansh Singhal (@SuanshSinghal) November 26, 2024
EPFO: You Will Be Able to Withdraw PF Money Through ATM / UPI
Currently, the EPF withdrawal process takes about 7 days, but after UPI integration, it will be completed in a few hours. The chances of claim rejection will decrease, and there will be more transparency in the transaction. Additionally, under the EPFO 3.0 program, EPFO will offer ATM withdrawal facilities for its members. The ATM card will work like a debit card. To withdraw money, you will first need to link your UAN, verify with OTP, and then withdraw cash.
