Good News! Now PF money will be withdrawn from mobile in a jiffy, EPFO ​​is bringing magical facility of UPI

EPFO UPI Withdrawal News: If you are also employed and are tired of waiting for weeks to withdraw PF money, then there is a very good news for you. Employees Provident Fund Organization i.e. EPFO ​​is now preparing to leave its old pattern and go completely digital. Soon you will be able to withdraw your PF money just like you use UPI to buy goods at a shop.

When is this wonderful service starting?

According to the latest information related to EPFO, preparations are on to launch this new system within the next two to three months. For this, EPFO ​​has joined hands with National Payments Corporation of India (NPCI). In the initial phase of the scheme, this special facility will be available only on ‘BHIM App’. You just have to go to the app and place the request and the money will reach your account as soon as verification is done.

Now the long wait will end, money will come directly into the account

At present, if you make an advance claim online for less than Rs 5 lakh, then even in ‘auto-mode’ it takes at least 3 working days. At the same time, for large amounts, manual checking takes weeks. But the new UPI system will eliminate this headache. As soon as you make a claim for things like illness, education or marriage, the system will immediately verify it on the backend and the money will be instantly transferred to your bank account through State Bank of India (SBI).

What will be the limit for withdrawing money?

Hearing about withdrawing money from UPI, the question that definitely comes to mind is whether all the money will be withdrawn at once? Officials have made it clear that there will be some restrictions in the beginning to prevent misuse of this facility. Since RBI has made some rules for UPI transactions, PF withdrawal will also be within their purview. It has not been decided yet what the limit will be, but it is clear that initially the entire amount will not be withdrawn at once. After the success of BHIM app, it can also be launched on apps like Google Pay and PhonePe.