Labor minister: EPFO 3.0 to enable paper-free UPI withdrawals
Business
EPFO's 3.0 upgrade is expected to roll out soon, making it way easier to access your provident fund.
Now you can withdraw money paper-free using UPI or UPI-enabled ATMs: no more waiting around for paperwork.
The labor minister says the new system is expected to be rolled out soon.
EPF 75% withdrawals, ₹5L quick settlements
You can instantly withdraw up to 75% of your EPF balance if needed, and the limit for quick settlements has jumped from ₹1 lakh to ₹5 lakh, great if you need cash fast for things like medical bills or education.
Plus, face authentication on the UMANG app means you can verify yourself and activate your UAN right from your phone, no OTPs or forms required.