Subscribers of the Employees’ Provident Fund Organisation (EPFO) will soon be able to withdraw their provident fund savings through the UPI payment gateway, with the amount directly credited to their bank accounts, Union Labour Minister Mansukh Mandaviya announced on Tuesday.
Speaking to reporters, Mandaviya said the EPFO has completed testing of the new facility as part of efforts to improve service delivery for members.“We have completed testing of the facility that will allow members to withdraw EPF through the UPI payment gateway. The withdrawn amount will be directly transferred to the member’s bank account,” he said.
The move is aimed at making EPF withdrawals faster, easier and more convenient for millions of subscribers across the country.