{"id":1291134,"date":"2025-02-21T11:09:34","date_gmt":"2025-02-21T05:39:34","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1291134"},"modified":"2025-02-21T11:10:07","modified_gmt":"2025-02-21T05:40:07","slug":"withdraw-entire-provident-fund-via-upi-in-next-90-days","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/withdraw-entire-provident-fund-via-upi-in-next-90-days\/","title":{"rendered":"Withdraw Entire Provident Fund Via UPI In Next 90 Days"},"content":{"rendered":"\n<p>The Employees Provident Fund Organisation (EPFO) is planning to introduce UPI-based withdrawals for employee provident fund (EPF) claims. This step, currently under discussion with the National Payment Corporation of India (NPCI), is expected to be rolled out within the next two to three months. The aim is to ensure faster, more efficient, and hassle-free fund transfers for millions of EPFO subscribers.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/02\/Untitled-design-11-1-1280x720-1-1-1024x576.jpeg\" alt=\"Withdraw Entire Provident Fund Via UPI In Next 90 Days\" class=\"wp-image-1291135\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/02\/Untitled-design-11-1-1280x720-1-1-1024x576.jpeg 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/02\/Untitled-design-11-1-1280x720-1-1-300x169.jpeg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/02\/Untitled-design-11-1-1280x720-1-1-768x432.jpeg 768w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/02\/Untitled-design-11-1-1280x720-1-1.jpeg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">How Will This Benefit EPFO Members?<\/h3>\n\n\n\n<p>Once the UPI integration is complete, EPFO members will be able to withdraw their EPF claims directly through UPI-enabled apps and digital wallets. This will significantly reduce processing times, eliminate paperwork, and enhance accessibility for users. With a subscriber base of 7.4 million people, this move is expected to improve operational efficiency and <a href=\"https:\/\/www.indiatoday.in\/business\/story\/epfo-to-roll-out-upi-based-claim-withdrawals-within-3-months-check-details-2682731-2025-02-20\">ensure seamless transactions.<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Government and Banking System Enhancements<\/h3>\n\n\n\n<p>To facilitate this transition, the labour ministry, in collaboration with the Reserve Bank of India (RBI) and commercial banks, is upgrading EPFOs digital infrastructure. This initiative will:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Simplify the withdrawal process<\/li>\n\n\n\n<li>Reduce processing delays<\/li>\n\n\n\n<li>Minimise paperwork<\/li>\n\n\n\n<li>Improve transparency in claim settlements<\/li>\n<\/ul>\n\n\n\n<p>The government aims to modernise financial transactions by ensuring real-time transfers and enhancing user experience.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">EPFOs Record-Breaking Claim Settlements<\/h3>\n\n\n\n<p>In recent months, EPFO has taken significant steps to improve pension services, upgrade its IT systems, and streamline claim settlements. These efforts have resulted in record-breaking claim settlements:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>FY25:<\/strong> Over 50 million claims processed, disbursing more than Rs 2.05 lakh crore<\/li>\n\n\n\n<li><strong>FY24:<\/strong> 44.5 million claims settled, amounting to Rs 1.82 lakh crore<\/li>\n<\/ul>\n\n\n\n<p>Additionally, the number of auto claim settlements within three days has more than doubled, reaching 18.7 million in FY25 from 8.95 million in FY24.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">A Step Toward Digital Transformation<\/h3>\n\n\n\n<p>The integration of EPF withdrawals with UPI marks a major step toward digital financial inclusion. By adopting UPI-based transactions, EPFO aims to enhance the overall user experience, making claim settlements faster, more secure, and highly accessible.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Employees Provident Fund Organisation (EPFO) is planning to introduce UPI-based withdrawals for employee provident fund (EPF) claims. This step, currently under discussion with the National Payment Corporation of India (NPCI), is expected to be rolled out within the next two to three months. The aim is to ensure faster, more efficient, and hassle-free fund [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":1291135,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1524,41],"class_list":["post-1291134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-epfo","tag-upi"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Withdraw Entire Provident Fund Via UPI In Next 90 Days - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/withdraw-entire-provident-fund-via-upi-in-next-90-days\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Withdraw Entire Provident Fund Via UPI In Next 90 Days - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"The Employees Provident Fund Organisation (EPFO) is planning to introduce UPI-based withdrawals for employee provident fund (EPF) claims. 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