EPFO introduces UPI and ATM withdrawals: Access your PF funds instantly

New Delhi (The Uttam Hindu): The Employees' Provident Fund Organization (EPFO) launched EPFO ​​3.0 last year to facilitate millions of account holders. Its primary objective is to completely modernize and simplify the retirement fund body's digital system. It is expected that this new system will be fully implemented by mid-2026. Under this new system, PF account holders will benefit from several innovative and hassle-free features, the most significant and most anticipated of which is the ability to withdraw PF funds through UPI and ATMs.

EPFO 3.0 will end office visits, will provide these important facilities

EPFO 3.0 proposes several revolutionary changes. These include easier employee access to provident funds, auto-claim settlement and seamless transfer of funds to the employee's preferred bank account. The biggest relief is that members will now be able to check their PF balance directly on UPI and withdraw funds instantly using ATMs and UPI. With the implementation of this new system, employees will be permanently relieved of the hassle of standing in long lines and making rounds of banks or EPFO ​​offices to withdraw their own funds.

Know how much money you can withdraw from ATM and UPI

Under this new facility, certain withdrawal limits have also been set. EPFO ​​can set a maximum limit of PF balance withdrawals via UPI or ATM up to 50 percent of the total amount deposited in the account. This rule is being made so that employees' accounts have sufficient savings for future needs and retirement. Several media reports are also claiming that to ensure the smooth functioning of this new system, EPFO ​​may also issue special ATM cards to its members, which will be directly linked to their PF accounts.

These necessary conditions will have to be fulfilled to avail the new facility

To easily withdraw PF funds through ATMs and UPI, account holders must meet several important KYC requirements. The primary requirement is that the member must have an active Universal Account Number (UAN). The registered mobile number must be active, and the UAN must be linked to the Aadhaar card, PAN card, bank account number, and IFSC code. To ensure a seamless process, the EPFO ​​has signed a key agreement with 32 public and private banks, enabling companies to deposit PF funds directly into banks, reducing the time required for claim processing.