Employees’ Provident Fund Organization (EPFO) is working on a mobile app for its subscribers, which is expected to be launched in April this year. Through this mobile app, EPFO subscribers will be able to transfer the funds deposited in their PF account directly to their bank account through UPI. A top source has given this information. The source said that the Labor Ministry is working on a project by which a certain part of the EPF balance will be safe, while a larger part can be withdrawn by transferring funds to the bank account through UPI.
Apart from transferring funds deposited in EPF account, subscribers will also get these features
The source said that EPFO will launch a new mobile app through which EPFO subscribers will be able to withdraw funds using the UPI gateway and avail other services like passbook balance. Currently, subscribers use the EPFO portal or ‘Umang’ app to access their EPF account and avail services. These services will be available on both platforms, while the new app will improve access and delivery of services for EPFO subscribers.
The app is being tested, bugs are being fixed
The source said subscribers will be able to see the eligible EPF amount available for transfer to their bank account through the mobile app. They will be allowed to use their UPI PIN to complete transactions, ensuring secure transfer of funds between bank accounts. EPFO is currently testing the service and fixing glitches in the app so that when it is launched, EPFO subscribers can avail all the features without any hassle. It is expected that the Labor Ministry will launch the app on a large scale in April this year.