EPF Subscribers to Get UPI Withdrawal by April: Instant Access to Funds

• EPFO plans to allow subscribers to withdraw a portion of their Provident Fund via UPI by April.
• A specific part of EPF will be blocked, while the rest will be available for UPI withdrawal.
• Subscribers will use their linked UPI PIN for easy and secure transactions, enabling direct bank transfers.
• This new facility is expected to benefit approximately 8 crore subscribers, simplifying the withdrawal process.
• The move aims to reduce EPFO's workload and make services more bank-like, despite not having a banking license.

Why It Matters: EPFO will enable UPI withdrawals for EPF subscribers by April, offering faster and easier access to funds.