New Delhi, June 18: In a major digital reform, the Employees’ Provident Fund Organisation (EPFO) is preparing to launch a new facility that will allow subscribers to withdraw their Provident Fund (PF) money through UPI apps and EPFO-linked ATMs. The service is expected to become available by the end of June under the new EPFO 3.0 platform.
PF Withdrawal Through UPI and ATM
Under the new system, EPFO subscribers will be able to access their PF savings more easily. Instead of waiting for lengthy processing, users can withdraw eligible amounts directly using UPI platforms and dedicated EPFO ATM services.The move aims to make PF withdrawals faster and more convenient.
Up to 75% Withdrawal Allowed
According to the proposed system, subscribers can withdraw up to 75% of their PF balance instantly. The remaining 25% will stay in the account to ensure retirement savings remain protected.Officials say the rule is designed to provide emergency financial support while maintaining long-term savings.
Face Authentication to Replace Paperwork
EPFO will also introduce Face Authentication Technology (FAT) for identity verification. Subscribers will no longer need to submit multiple physical documents for verification. The technology will help complete the process quickly and securely.
No Need to Visit EPFO Offices
The new facility is expected to reduce the need for employees to visit EPFO offices. Most services will be available digitally, reducing paperwork and processing delays. Officials believe the reform will improve transparency and help subscribers access funds during emergencies without unnecessary hurdles.
EPFO 3.0 Digital Transformation
The upcoming rollout is part of the EPFO 3.0 initiative aimed at modernising services for millions of subscribers across India. Union Labour Minister Mansukh Mandaviya had earlier indicated that the new facilities would be launched soon. Once implemented, the system is expected to make PF withdrawals as simple as using a bank ATM or making a UPI transaction.
The reform is likely to benefit crores of EPFO subscribers by providing quicker and easier access to their savings whenever needed.