Provident Fund News: EPFO to Soon Introduce UPI-Based PF Withdrawal Facility For Employees

Provident Fund News: The Employees’ Provident Fund Organisation (EPFO) is planning to launch a new feature that will allow employees to withdraw their Provident Fund (PF) using UPI. This effort, which is set to go live within the next two to three months, intends to simplify and accelerate the PF claim process. Furthermore, Mansukh Mandaviya, Minister of Labour and Employment, stated that the EPFO has already processed 5.8 crore claims in the fiscal year 2025, totaling Rs 2,59,932.49 crore—the largest figure to date.

PF New Updates 

EPFO, in partnership with the National Payments Corporation of India (NPCI), is working to improve withdrawals by allowing direct transfers to digital wallets. This improvement is intended to help more than 70 lakh EPFO members by enhancing accessibility. EPFO has also improved its digital technology to enable faster PF transfers. Currently, 48% of transfer claims can be submitted online without agency approval. Employees no longer need to file a separate application for PF transfer after activating their UAN, linking it to Aadhaar, and completing KYC; the transfer will take place right after the new employer makes the first contribution. In addition, EPFO intends to implement ATM withdrawals for PF funds, with the development of a specific debit card underway.