The Employees’ Provident Fund Organisation (EPFO) has conducted trials for a new feature that will enable members to withdraw their provident fund savings directly into their bank accounts via the Unified Payments Interface (UPI), announced Union Labour Minister Mansukh Mandaviya. This initiative is part of EPFO’s efforts to enhance service delivery and streamline access to provident fund savings for its over seven crore members. Subscribers will soon have the option to check their eligible EPF balance and instantly transfer and withdraw funds into their UPI-linked bank accounts, with transactions authenticated using their UPI PIN for security.
The labour ministry is developing a system where a portion of EPF savings will be kept frozen, while a significant sum will be accessible for direct withdrawal through UPI-linked bank accounts. Once the funds are credited, members can utilize them for digital transactions or withdraw cash from ATMs using their debit cards. Currently, EPFO members need to file withdrawal claims to access their provident fund money, a process that can be time-consuming. To expedite this, the organization has introduced an auto-settlement mode for electronic processing of claims within three days, raising the withdrawal limit from Rs 1 lakh to Rs 5 lakh for quicker access to funds for various purposes like healthcare, education, weddings, and housing.
Mandaviya also disclosed that EPFO is set to introduce member services through WhatsApp in the coming month to enhance engagement and address grievances effectively. Through this upcoming service, subscribers can initiate conversations with EPFO by sending a “Hello” message to the verified WhatsApp number. Members will have access to features like checking PF balances, viewing recent transactions, and tracking claim statuses in regional languages for improved accessibility and user convenience.
The WhatsApp-based initiative will particularly cater to beneficiaries under the PMVBRY scheme encountering challenges such as incomplete Aadhaar authentication via UIDAI’s Face Authentication Technology or non-activation of direct benefit transfer in Aadhaar-linked bank accounts. These users will receive guided support directly through the platform. Additionally, EPFO has launched a mission-mode campaign to minimize litigation and accelerate the resolution of pending legal cases, focusing on cases in consumer courts through the “Nidhi Aapke Nikat” program for swifter redressal.
