EPFO to Launch Instant PF Withdrawals via BHIM UPI for 30 Crore Employees!

• EPFO is set to enable instant PF withdrawals for over 30 crore employees using the BHIM UPI app.
• This new facility will allow immediate transfer of approved PF advance claims for specific categories directly to UPI-linked bank accounts.
• The system, developed in collaboration with NPCI and facilitated by State Bank of India, aims to significantly reduce withdrawal times from days to minutes.
• Initially, the service will be available on the BHIM app, with potential expansion to other UPI platforms, and will have transaction limits to prevent misuse.
• This digital transformation by EPFO seeks to enhance user-friendliness and provide quick financial relief during emergencies for millions of members.

Why It Matters: EPFO's new BHIM UPI integration will allow 30 crore employees to instantly withdraw PF advances, boosting financial security.