EPFO Update: PF Withdrawal via UPI and ATM Starts Soon, Know the Maximum Limit
A major convenience update is on the way for millions of EPFO members. The government is preparing to introduce a new system that will allow Provident Fund (PF) withdrawals through UPI and ATMs. The rollout work is almost complete, and the facility is expected to become available by the end of this month.
Launch Preparations in Final Stage
The new withdrawal feature has been developed in collaboration with the National Payments Corporation of India (NPCI). After successful testing, the system is now awaiting its official launch. Union Labour Minister Mansukh Mandaviya has also indicated that a formal announcement could be made soon.
How Much PF Can Be Withdrawn?
EPFO has not yet released official details regarding withdrawal limits under the new system. However, existing withdrawal rules are expected to remain unchanged. According to several reports, members may be able to instantly withdraw up to 75% of their eligible EPF balance through UPI and UPI-enabled ATMs. Experts believe this move will significantly reduce paperwork and waiting periods.
Faster Access to PF Funds
At present, EPF members must submit a claim and wait for approval before receiving their money. The process can take anywhere from 15 to 20 days. With the new UPI and ATM-based withdrawal system, eligible funds could be transferred almost instantly, offering much quicker access during emergencies.
Higher Claim Settlement Limit
The government has also increased the self-settlement limit for PF claims from ₹1 lakh to ₹5 lakh. In addition, members can now verify their identity through Face Authentication Technology (FAT) on the UMANG app, reducing dependence on multiple supporting documents.
Launch Preparations in Final Stage
The new withdrawal feature has been developed in collaboration with the National Payments Corporation of India (NPCI). After successful testing, the system is now awaiting its official launch. Union Labour Minister Mansukh Mandaviya has also indicated that a formal announcement could be made soon. How Much PF Can Be Withdrawn?
EPFO has not yet released official details regarding withdrawal limits under the new system. However, existing withdrawal rules are expected to remain unchanged. According to several reports, members may be able to instantly withdraw up to 75% of their eligible EPF balance through UPI and UPI-enabled ATMs. Experts believe this move will significantly reduce paperwork and waiting periods.Faster Access to PF Funds
At present, EPF members must submit a claim and wait for approval before receiving their money. The process can take anywhere from 15 to 20 days. With the new UPI and ATM-based withdrawal system, eligible funds could be transferred almost instantly, offering much quicker access during emergencies. Higher Claim Settlement Limit
The government has also increased the self-settlement limit for PF claims from ₹1 lakh to ₹5 lakh. In addition, members can now verify their identity through Face Authentication Technology (FAT) on the UMANG app, reducing dependence on multiple supporting documents.Next Story