Need PF money fast? EPFO may soon let you withdraw funds through UPI

Key points

• Waiting for your PF money could soon become much faster and easier.
• Instead of filing claims and waiting days for processing, EPFO subscribers may soon be able to transfer their provident fund money directly to their bank accounts using UPI.
• The government says testing for this new feature has already been completed, and if all goes as planned, lakhs of employees could soon access their EPF savings with just a few taps on their phones.
• Read Full Story EPFO TESTING UPI-BASED PF WITHDRAWALS Labour Minister Mansukh Mandaviya said on Tuesday that the Employees’ Provident Fund Organisation (EPFO) has completed testing for a facility that would allow members to withdraw their Employees’ Provident Fund (EPF) using the UPI payment gateway.
• Speaking to reporters, the minister said the withdrawn amount will be transferred directly into a subscriber’s bank account.