A big news has come for the job seekers in India. Employees Provident Fund Organization (EPFO) is going to bring a new system soon. Under this, now subscribers will be able to transfer their PF money directly to their bank account through UPI. This change is part of the EPFO 3.0 project, which aims to provide money to people quickly and eliminate old cumbersome processes.
When will the facility to withdraw money from UPI start?
According to the latest information, this facility is expected to be fully operational by April 2026. For this, a special mobile app will also be launched in the month of April. According to PTI report, EPFO is currently testing it with dummy accounts. The purpose of this trial is to ensure that there are no technical problems after the launch. With the introduction of this new system, the time taken to pass the claim will be significantly reduced and people will not have to wait long to get their money.
What will be the new rules for withdrawing money?
With this new facility, some important terms and conditions will also be applicable, which will be mandatory for all account holders to follow:
Balance Limit: Subscribers will be able to withdraw only a maximum of 75% of their PF balance.
Minimum amount: It will always be necessary to maintain at least 25% balance in the account.
Transaction Limit: The initial limit for withdrawing money through UPI can be Rs 25,000 per transaction.
Need for clearance: The limit for withdrawing money for marriage has been increased to 5 times and for studies to 10 times.
Required Documents: To avail this online facility, it is mandatory to link UAN with Aadhaar and complete KYC.