The EPFO is set to launch a new mobile application enabling around 80 million employees to withdraw their PF money via UPI directly to their bank accounts by April 2026.
The Employees' Provident Fund Organisation (EPFO) in India is planning to simplify the process of withdrawing provident fund (PF) money for around 80 million employees. A new mobile application is set to be launched by April 2026, which will allow users to withdraw their provident fund directly through UPI to their bank accounts, eliminating the need for physical visits to offices. This innovation aims to alleviate the existing challenges faced during the withdrawal process, making it more efficient.
Sources from the Ministry of Labour indicate that under the new regulation, a portion of the EPF fund will be secured, while a substantial part will be made available for immediate withdrawal via UPI. This step is expected to enhance the speed and security of transactions within the banking process for EPF members, providing a seamless experience for fund withdrawals.
Currently, EPF members submit claims through the UAN portal or the UMANG app, often experiencing delays in the claims process that can take days. Though there is an auto-settlement system in place for certain cases that can resolve claims within three days, the new UPI-based system is anticipated to significantly reduce the waiting time and complications involved in accessing funds.
