Good news! EPFO to introduce UPI-Based PF withdrawals for faster access to funds

Employees’ Provident Fund Organisation (EPFO) members will soon be able to withdraw their provident fund (PF) money using popular UPI apps like Google Pay, PhonePe, and Paytm. This new facility aims to make fund withdrawals faster and more seamless.

UPI Withdrawals for PF: A Game-Changer

Currently, PF withdrawals take a few days to process via bank transfers. However, with UPI integration, funds will be instantly credited to the user's linked UPI ID, providing immediate access—especially during financial emergencies.

Implementation Timeline & Digital Upgrade

According to reports, EPFO is working with the National Payments Corporation of India (NPCI) and has already prepared a blueprint for this initiative. The facility is expected to roll out within the next two to three months as part of a broader digital transformation effort led by the labour ministry, in collaboration with the Reserve Bank of India (RBI) and commercial banks.

Boosting Efficiency & Transparency

This move is expected to simplify the withdrawal process by reducing paperwork, minimizing delays, and enhancing transparency. EPFO has already processed over 50 million claims in FY25, disbursing ₹2.05 lakh crore to its 74 million subscribers—an increase from FY24's 44.5 million claims worth ₹1.82 lakh crore. The number of auto-settled claims within three days has also surged from 8.95 million last year to 18.7 million in FY25.

A Step Towards a Digital Financial Ecosystem

By integrating UPI for withdrawals, EPFO is modernizing its systems to offer users quick and hassle-free access to their savings. This initiative aligns with India's push towards a more efficient, digital-first financial landscape, ensuring greater convenience for millions of PF subscribers.