Good news for EPFO subscribers — soon, withdrawing Employees’ Provident Fund (EPF) money may get faster and easier, thanks to a major upgrade being planned by the government.
According to senior officials at the Ministry of Labour, work is underway on a system that would allow EPF members to withdraw part of their PF balance using ATMs or UPI — after linking their bank accounts to their EPF accounts. Once implemented, this move could transform how crores of Indians access their hard-earned retirement savings.
Faster Withdrawals via ATM & UPI
At present, EPFO members must submit a withdrawal claim — an online or offline process — which typically takes a few days to process. However, under the proposed system, subscribers could directly withdraw funds using UPI apps or ATM debit cards, much like withdrawing from a savings account.
The new service would allow members to access a portion of their PF balance in real time, making the system faster and more user-friendly.
Tech Challenges Being Addressed
Sources reveal that while this idea has been in discussion for some time, software-related challenges are delaying full rollout. Work is ongoing to address these technical issues and make the process secure.
Currently, EPFO uses an auto-settlement mode for advance withdrawal claims. Under this mode, funds up to ₹5 lakh can now be processed and credited within three days, without any manual intervention. This limit was recently raised from ₹1 lakh to ₹5 lakh — enabling faster disbursements for medical, educational, marriage, and urgent personal needs.
Aiming for Banking-Like Experience
EPFO officials clarified that while the organization does not hold a banking license — and thus cannot allow direct account-to-account transactions — the aim is to make EPF services comparable to banking systems. The idea is that once the new platform is ready, members will be able to deposit or withdraw a portion of their EPF funds seamlessly using ATM debit cards or UPI-based apps.
This could be a big relief for EPFO’s over 7 crore members, especially as over 5 crore EPF withdrawal claims are processed each year — putting a heavy load on the current system.
When Will It Roll Out?
Though no formal launch date has been announced, insiders suggest that testing of the system is underway. Once the necessary software upgrades and security checks are in place, members can expect to use UPI or ATMs for partial withdrawals — without filing lengthy withdrawal claims.
Final Word
With this proposed feature, EPFO is taking a big step toward modernizing its services and making PF withdrawals faster and more convenient. For millions of members who depend on quick access to their retirement savings during emergencies, this update will be a game changer.
Stay tuned for more updates — and in the meantime, ensure that your bank account is correctly linked to your EPF account to benefit from these upcoming services.
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- My name is Kuldeep Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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