No More Long Waits! EPFO to Enable Instant PF Withdrawals via UPI & ATMs

New Delhi (The Uttam Hindu): The Employees’ Provident Fund Organization (EPFO) is set to introduce a major change by the end of May or early June 2025. With this new update, EPFO members will be able to withdraw their Provident Fund (PF) instantly using UPI and ATMs.

With this upgrade, employees will no longer have to go through lengthy and time-consuming procedures to access their PF savings. This initiative is being implemented in collaboration with the Ministry of Labour and Employment and has received approval from the National Payments Corporation of India (NPCI). This move is expected to provide better facilities to millions of EPFO members across the country.

Sumita Dawra, Secretary of the Ministry of Labour and Employment, stated that employees will be able to withdraw up to ₹1 lakh instantly. She further explained that members will also be able to check their PF balance directly on the UPI platform and transfer funds to their preferred bank accounts without any delay. This will make it easier for employees to access their money in times of need.

Currently, withdrawing PF funds requires submitting an online claim and waiting for approval, which can take several days or even weeks. However, with UPI integration, withdrawals will become instant and hassle-free. Employees will not only be able to withdraw funds quickly but also check their balance and carry out transactions in real time.

Additionally, EPFO is expanding the list of reasons for which members can withdraw their PF savings. Apart from medical emergencies, employees will now be able to withdraw funds for housing, education, and marriage.

Dawra further stated, **"EPFO has integrated more than 120 databases, significantly improving its digital infrastructure. These efforts have reduced claim processing time to just three days, with 95% of claims now being processed automatically. Further upgrades are underway to enhance system efficiency."**

Pensioners have also benefited from EPFO’s digital initiatives. Since December 2024, around 7.8 million pensioners have been able to access their funds from any bank branch without restrictions. Previously, withdrawals were only allowed from specific bank branches.