PF Withdrawal Update: Now Withdraw EPF Money via ATM, Paytm, and Soon Through UPI

PF Withdrawal Update: Now Withdraw EPF Money via ATM, Paytm, and Soon Through UPI Newscrab | 07/03/2025 13:20:04

Millions of Employees’ Provident Fund Organization (EPFO) subscribers are set to experience greater convenience in withdrawing their PF funds. The government is working on making EPF withdrawals seamless through UPI, allowing users to access their funds instantly. EPFO is currently in discussions with the National Payments Corporation of India (NPCI) to implement this new system.

EPFO Members to Get Easy PF Withdrawals via UPI

New Delhi: Over 7 crore EPFO beneficiaries will soon be able to withdraw their Provident Fund (PF) instantly via UPI-based platforms like Google Pay, PhonePe, and Paytm. This initiative aims to simplify the withdrawal process, as many employees currently face delays and claim rejections when withdrawing their PF funds.

One in Three PF Withdrawal Claims Gets Rejected

According to the EPFO final settlement claims report for 2023, nearly one out of every three PF withdrawal claims was denied. To address this issue, the government is introducing UPI-based withdrawals, making the process more efficient and hassle-free.

Instant Money Transfer to Bank Accounts

Once implemented, EPF members will be able to withdraw money instantly through UPI, ensuring faster access to funds. As per reports, this facility is expected to be launched by May or June 2025.

EPFO 3.0: More Convenient Withdrawal Options Coming Soon

Union Labor Minister Mansukh Mandaviya had earlier announced that EPFO 3.0, which includes ATM withdrawals for PF accounts, will be rolled out by June 2025. This new initiative will offer multiple benefits:

Faster transactions – Currently, PF withdrawals take up to 23 days, but with UPI, funds will be accessible within minutes.
Increased transparency – The process will become more streamlined, reducing delays and claim rejections.
24/7 access to funds – Employees can withdraw PF money anytime without depending on banking hours.

A Boon for Emergencies and Large Expenses

This new facility will be particularly helpful for those who require urgent access to funds. Whether it’s a medical emergency, a sudden financial need, or a large purchase, employees will be able to withdraw their PF money instantly without any delays.

With EPFO’s upcoming digital transformation, withdrawing Provident Fund money will soon be as easy as making a UPI payment, ensuring quick, secure, and hassle-free transactions for millions of subscribers.