US EditionEPFO Rules 2025: Provident Fund Withdrawal Via UPI, ATM By End Of May Or June
- The Employees Provident Fund Organisation will allow members to withdraw funds via UPI and ATM by the end of May or June, as announced by Labour and Employment Secretary Sumita Dawra.
- The EPFO has reduced claim processing time to three days and automated 95% of claims, enhancing efficiency in the system.
- A centralized pension system will provide 78 lakh pensioners access to their funds from any bank, as part of the new reforms by the EPFO.
- The Employment Linked Incentive scheme's funding has doubled to Rs 20,000 crore to support first-time and existing workers, according to Dawra.
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13 Articles
EPFO to enable UPI, ATM withdrawals for provident fund from June, expand pension access
The Employees’ Provident Fund Organisation (EPFO) is set to integrate Unified Payments Interface (UPI) for claim withdrawals by the end of May, aiming to streamline transactions and reduce processing time, Labour and Employment Secretary Sumita Dawra announced on Monday. Dawra highlighted that EPFO, which has 7.5 crore active members, has already automated claims up to Rs 1 lakh, introduced self-correction mechanisms, and eliminated redundant pr…
EPFO Rules 2025: Provident Fund Withdrawal Via UPI, ATM By End Of May Or June
A top government official said Provident Fund members will instantly be able to withdraw up to Rs 1 lakh and choose their preferred bank account for the transfers, once the new system comes into place
From June, You Can Use UPI, ATM For Provident Fund Withdrawals: Top Official
In a groundbreaking development for India's workforce, the Employees' Provident Fund Organisation (EPFO) is set to introduce a revolutionary new system for Provident Fund (PF) withdrawals through Unified Payments Interface (UPI).
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