EPFO instant withdrawal from UPI and ATMs may be allowed soon, Pension Access all across India

There is a good news for EPFO Subscribers. As per reports, the Employees’ Provident Fund Organisation (EPFO) is set to revolutionize the way millions of employees access their provident fund (PF) savings. From June 2025, EPF members will be able to instantly withdraw PF funds via Unified Payments Interface (UPI) and ATMs.

This major step is being implemented with the support of the Ministry of Labour and Employment and approval has already been received from the National Payments Corporation of India (NPCI). Users will be able to check their PF balance directly on UPI platforms and transfer funds to their bank accounts without delays.

Currently, PF withdrawals involve submitting online claims followed by a waiting period for approval from EPFO field offices. This process can take several days or even weeks. However, now users can instantly withdraw amount via UPI and ATMs. Members will be allowed to withdraw up to ₹1 lakh instantly. This will be highly beneficial in medical emergencies.

“EPFO has made significant improvements in its digital infrastructure by integrating over 120 databases,” said Sumita Dawra, Secretary at the Ministry of Labour and Employment. “These efforts have reduced claim processing time to just three days, with 95 per cent of claims now being processed automatically. Further upgrades are also in progress to make the system even more efficient.”

Currently, the EPF scheme allows withdrawals for medical emergencies, housing, education, and marriage, but members must meet specific eligibility criteria and provide proper documentation.

With the upcoming changes, the scope of permitted withdrawal reasons will be expanded, giving employees greater financial flexibility for key life events.

Good News for Pensioners Also

There is a good news for pensioners also. Pensioners under the Employees’ Pension Scheme (EPS) of 1995 will be able to access their pensions from any bank branch across India starting January 1, 2025. This means retirees will no longer be restricted to specific banks or branches.

Even if a pensioner relocates or changes banks, pension disbursal will continue seamlessly through the Centralised Pension Processing System (CPPS), eliminating the need to transfer Pension Payment Orders (PPO) between offices.

This is really a very beneficial step from EPFO as it will make pension access easier. People will not have to visit several places for pension. The citizens are welcoming these new changes by EPFO. It’s expected that these changes can be a big game-changer for EPFO and EPFO can add more subscribers in future.