EPF Withdrawal Through UPI – Everything You Need to Know
The Employees’ Provident Fund Organization (EPFO) is set to introduce a new facility allowing EPF subscribers to withdraw their Provident Fund (PF) balance through UPI. In the coming two to three months, users may be able to access their PF funds via popular UPI apps such as Paytm, Google Pay, and PhonePe.
New UPI Withdrawal Facility for EPF Subscribers
EPFO is working towards enabling direct transfers of PF amounts to bank accounts via UPI-based applications. This advancement will simplify fund withdrawals and benefit millions of EPF subscribers across the country. Once launched, the process will become faster and more convenient for users.
Steps to Withdraw EPF Money Using UPI
Although this facility is not yet active, here’s how EPF subscribers will be able to withdraw their funds through UPI once it is implemented:
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Download & Install – Ensure that you have Paytm, Google Pay, or PhonePe installed on your smartphone and linked to your bank account.
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Locate EPFO Withdrawal Option – Once the feature is live, find the ‘EPFO Withdrawal’ section within the app.
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Enter UAN Details – Provide your Universal Account Number (UAN) to proceed.
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Choose Withdrawal Type – Opt for a full or partial withdrawal, depending on your needs (e.g., medical emergencies, home loan repayment, or education expenses).
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Enter Withdrawal Amount – Specify the amount you wish to withdraw.
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Authenticate with OTP – A One-Time Password (OTP) will be sent to your registered mobile number. Enter the OTP to confirm your request.
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Receive Funds – The requested PF amount will be credited to your bank account or digital wallet.
Ensure KYC Compliance for PF Withdrawals
To use this facility, your PF account must be KYC-compliant. This means your Aadhaar, PAN, and bank account details should be linked to your EPF account. Users can check their KYC status by logging into their PF account on the official EPFO website (epfindia.gov.in).
Stay updated for further announcements as EPFO prepares to roll out this new and convenient UPI withdrawal service.
Stay updated for further announcements as EPFO prepares to roll out this new and convenient UPI withdrawal service.
