EPFO members are about to turn 12. The day is not far when it will be possible to withdraw provident fund money through UPI. Yes, you heard it right. It is learnt that if everything goes well, they will be able to withdraw their PF money directly into their bank accounts through the UPI payment gateway through a new mobile app launched in April this year.
When is the new EPFO app being launched?
It is learnt that currently, members use the UAN portal or the Umang app to access their EPF account and services. These services will be available on both the platforms, but the new app will improve access and delivery of services to EPFO members. In this context, a senior official said that the Labour Ministry is working on a plan where a part of the EPF funds will be secured, while the remaining amount will be available for withdrawal through UPI.
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The official also said that a new EPFO mobile app will be launched, through which members will be able to withdraw money through the UPI gateway and also avail other features like checking their passbook balance. According to sources, members will be able to view the EPF balance available for transfer to their bank accounts through the mobile app. They will be allowed to use their UPI PIN to complete the transaction, which will ensure secure transfer of funds to their bank accounts. EPFO is currently testing the service. The labour ministry is expected to launch the app on a large scale in April this year.
How much money can be withdrawn at once?
Now the question is, how much money can members withdraw at once? Under this scheme of the labour ministry, the funds will be divided into two parts. The official explained that a part of the EPF will remain “locked-in” and will be reserved for retirement. The remaining part, which is withdrawable, will be available for withdrawal through UPI.









