New Delhi: In what would be huge sigh of relief for crores of salaried class, the subscribers of the Employees’ Provident Fund Organisation (EPFO) will be able to receive their PF money directly into their bank accounts using a UPI (UPI) payment gateway through a new mobile application. The app is expected to be launched in April 2026.
How the new EPFO UPI App will work
PTI quoted a source saying that the Labour Ministry is working on a project under which a fixed portion of the Public Provident Fund will be secured, while a larger portion will be made available for withdrawal through the bank account via the Unified Payments Interface (UPI). The source said that EPFO will introduce a new mobile app through which EPF members will be able to withdraw money using the UPI gateway. Besides this, subscribers will also be able to avail other services such as passbook balance.
Accessing Your EPF: Beyond UAN Portal
The present rules state that EPF members use sue Universal Account Number (UAN) portal or the UMANG app to access their EPF accounts and avail services. Both the services will continue to be available on both platforms, while the new dedicated app will improve access and delivery of services for EPFO customers.
The source said that subscribers will be able to view the EPF balance amount available for transfer to their bank accounts through the mobile app. The proposed app will be allowed to use their linked UPI PIN to complete the transaction, ensuring secure transfer of funds into bank accounts.
The app is in testing phase. The Labour Ministry is likely to launch this app in April this year.
EPFO Withdrawal
The current rules state that EPFO members are required to apply for a withdrawal claim to take money out of their EPF account, which takes considerable time. When the automatic settlement system will be introduced, the withdrawal claims would be settled electronically within three days of submitting the application, without any manual intervention.
The EPFO is expected to set a limit while introducing the automatic settlement system. It could be increased from the existing Rs 1 lakh to Rs 5 lakh. This enables a large number of EPFO members to withdraw money from their EPF accounts within three days for purposes such as illness, education, marriage, and housing.