Mansukh Mandaviya announces EPFO UPI PF withdrawals to bank accounts
Big update for EPFO subscribers: you'll soon be able to withdraw your PF money straight to your bank account using UPI or at any UPI-enabled ATM: no more waiting around for employer approvals.
Announced by Labor Minister Mansukh Mandaviya, this move is set to make life easier for over seven crore members by speeding up withdrawals and cutting down paperwork.
UMANG app to enable ₹5L withdrawals
Instead of filling out forms and waiting days for verification, you'll be able to check your withdrawal limit on the UMANG app, generate a QR code, and transfer up to ₹5 lakh directly.
Withdrawals at UPI-enabled ATMs are also coming soon. The UPI payment-gateway withdrawal facility has already been tested.
Plus, EPFO plans to use WhatsApp support so you can get help or ask questions right from your phone.