From June, You Can Use UPI, ATM For Provident Fund Withdrawals: Top Official

New Delhi:

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).

The Labour and Employment Ministry has approved the recommendation of the National Payments Corporation of India (NPCI), an umbrella organisation that operates retail payments and settlement systems in India.

Speaking exclusively with ANI, Sumita Dawra, Secretary of the Ministry of Labour and Employment, revealed that PF members will soon be able to withdraw funds through UPI and ATM by the end of May or June this year.

Dawra said that by May-end or June, members will experience a transformative change in accessing their provident funds. They will be able to view their PF account balance directly on UPI, instantly withdraw up to Rs1 lakh through an automated system, and choose their preferred bank account for transfers