EPFO is soon going to launch a new mobile app, through which withdrawal of Employees Provident Fund (PF) can be done through UPI in minutes. The new feature will enable users to transfer money directly to their bank accounts and provide relief from traditional lengthy processes. Maximum 75 percent of PF can be withdrawn, while 25 percent will remain safe in the account.
EPFO New App Launch: Employees’ Provident Fund Organization (EPFO) is launching a new mobile app for its subscribers, which will make PF withdrawal faster and easier. The new app will integrate with other UPI apps including BHIM and users will be able to transfer money directly to their bank account. This change is especially beneficial for those employees who want to avoid the lengthy process of the traditional portal. Maximum 75 percent of PF money can be withdrawn and the remaining 25 percent will remain safe in the fund.
PF withdrawal in minutes through UPI
EPFO’s new app will integrate with BHIM and other UPI apps. Users will be able to transfer money directly from their EPF account to the bank and then withdraw it instantly through UPI. Currently, withdrawals through online portals take a lot of time and procedures, but the new app will complete the process in minutes.
Under the new feature, subscribers will be able to withdraw a maximum of 75 percent of their PF balance. At least 25 percent of the amount will remain in the account. If an employee leaves the job, the remaining money can be withdrawn after 12 months. This rule is necessary for the safety of the fund.
PF claim is also possible through UMANG app
Till the new EPFO app is fully launched, users can make PF withdrawals through the UMANG app. Although it does not have the option of UPI, applying in the traditional way is easy and mobile friendly. Registration on EPFO portal and application can be done through UMANG app.
EPFO’s new app is going to make PF withdrawal easier and faster, which will provide money transfer facility in minutes through UPI integration. This change is a big benefit for employees and will maintain fund protection rules. Users are advised to install the app as soon as it is launched and avail the PF withdrawal facility.
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