EPFO 3.0 Goes Live On April 1: Here's How You Can Now Withdraw PF Money Directly Via UPI

If you have been dreading the long wait times and endless paperwork that come with withdrawing your Provident Fund, relief is on the way. The Employees' Provident Fund Organisation (EPFO) is rolling out EPFO 3.0 starting April 1, and its biggest update is a game-changer for millions of salaried employees across India. the ability to withdraw PF funds directly via UPI, with money hitting your linked bank account in real time through an Instant Credit feature.

What is different with EPFO 3.0?

The new system eliminates the need to visit a PF office or fill out physical forms. High-speed transfers make it easier to handle urgent expenses, the direct transfer reduces the risk of fraud or delays caused by third parties, and members can track their balance and withdrawals through their preferred UPI apps.

There is also a new safety net built in for those who lose their jobs. Members can withdraw up to 75 percent of their eligible funds immediately after job loss to cover living costs, while the remaining 25 percent stays in the account. If the member remains unemployed the following month, the remaining balance can be withdrawn as well.

Ensure to do this before you use the UPI withdrawal feature

Before using the UPI withdrawal feature, members must ensure

- Their UAN is activated.

- Their Aadhaar is linked to their PF account.

- Their mobile number is linked to both Aadhaar and their UPI app.

- Their bank's KYC is updated and verified by their employer.

How to withdraw PF via UPI: Step-by-step guide

- Open the EPFO portal or the UMANG app on your smartphone and select the UPI withdrawal option.

- Enter the amount you wish to withdraw and verify the request using your UPI PIN.

- The money should get credited to your account.

- Once the money is credited to your bank account, you can simply withdraw it if you wish to, from the ATM.