EPFO to enable direct PF withdrawal to bank accounts through UPI

Subscribers of the Employees’ Provident Fund Organisation (EPFO) will soon be able to withdraw their provident fund money directly into their bank accounts through a UPI payment gateway, using a new mobile application scheduled for launch in April, a top source said.

According to the source, the labour ministry is working on a project under which a portion of the EPF corpus will be frozen, while a substantial amount will be made available for withdrawal into linked bank accounts via Unified Payment Interface (UPI).