EPFO to Launch UPI-Based Instant EPF Withdrawal System by April 2026
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Moneycontrol•19-01-2026, 12:10
EPFO to Launch UPI-Based Instant EPF Withdrawal System by April 2026
- •EPFO is set to introduce a new system by April 2026 allowing instant EPF withdrawals directly to bank accounts via UPI.
- •This new facility aims to simplify the withdrawal process for approximately 8 crore EPFO members, reducing administrative burden.
- •Members will be able to withdraw a portion of their EPF balance, with up to Rs 25,000 instantly via UPI, while a minimum of 25% will remain for retirement security.
- •The system will use a UPI PIN for secure transactions, enabling employees to access funds for essential needs like illness, education, marriage, and housing.
- •The Labor Ministry and EPFO are finalizing this system, moving towards a more digital and hassle-free service similar to banking.
Why It Matters: EPFO is streamlining EPF withdrawals with a new UPI-based system for faster, easier access to funds.
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