EPFO to Allow Instant EPF Withdrawals via UPI with Rs 25,000 Cap

• EPFO is set to introduce UPI-based withdrawals for EPF from April, making the process faster and easier.
• Subscribers will be able to access provident fund directly into their bank accounts with minimal paperwork.
• An initial cap of Rs 25,000 per transaction may be set, with 25% of the EPF balance frozen for long-term security.
• The system will allow members to use their linked UPI PIN for secure transactions, enabling digital payments or ATM withdrawals.
• EPFO has also simplified partial withdrawal rules, merging 13 provisions into three categories and allowing up to 100% withdrawal of eligible balance.

Why It Matters: EPFO is streamlining EPF withdrawals with UPI integration and simplified rules for faster, easier access to funds.