The Employees’ Provident Fund Organization (EPFO) is set to roll out a major upgrade in 2025, revolutionizing how over 7 crore members access their PF funds. Under the new system, subscribers may soon be able to withdraw PF instantly through UPI or ATMs, eliminating delays and simplifying the process.
What’s Changing?
Currently, PF withdrawals require submitting a claim, which can take days or even weeks. The upcoming update aims to eliminate claim filing altogether by linking EPF accounts with UPI IDs or bank accounts, enabling real-time access to funds.
How Will upi -Based Withdrawals Work?
Once launched, users will be able to:
- Log into the EPFO portal
- Choose ‘Withdraw via UPI’
- Enter their UPI ID and amount
- Confirm the transaction
No documents or long waiting periods will be needed.
Additionally, the Labour Ministry is exploring ATM-based withdrawals, allowing PF access like a regular bank transaction—provided the EPF account is bank-linked.
Auto-Settlement & Claim Cap Raised
EPFO had earlier introduced auto-settlement during COVID-19, processing claims up to ₹1 lakh in 3 days. This limit has now been raised to ₹5 lakh to support urgent needs like medical emergencies, weddings, or housing.
Security Measures in Place
Despite not being a licensed bank, EPFO will partner with fintech providers to ensure secure transactions, featuring:
- Two-factor authentication
- Aadhaar and DigiLocker integration
- End-to-end encryption
Traditional vs UPI Withdrawal: A Comparison
| Method | Processing Time | Availability |
|---|---|---|
| Traditional | 2–4 weeks | Limited hours |
| UPI | Under 1 minute | 24/7 access |
What Members Should Do :
To take full advantage of the new system :
- Link your Aadhaar, UPI ID, and bank details with your EPFO account.
This major upgrade aligns with the Digital India mission, aiming to boost transparency, convenience, and financial accessibility for millions.