EPFO Introduces UPI-Based PF Withdrawals

Subscribers of retirement fund body EPFO will be able to withdraw their employees' provident fund (EPF) directly into their bank accounts through UPI payment gateway using its newly designed mobile application to be launched in April this year, a top source said. 

The labour ministry is working on a project where a certain proportion of the EPF will be frozen, and a large chunk will be



available for withdrawal through their bank account using Unified Payment Interface (UPI), the source told  Media.

The source further informed that the Employees' Provident Fund Organisation will roll out a new mobile phone application through which the member would be able to withdraw their EPF money using UPI gateway as well as avail other services like passbook balance.