EPFO Update: Apart from ATM… PF money can also be transferred through GPay, Paytm, know when will it be implemented?

EPFO Update: Big changes are going to happen soon regarding the Employees Provident Fund Organization or EPFO. In which the money deposited in the PF account can be withdrawn from the ATM. Apart from this, money can also be withdrawn through UPI.

EPFO Update: Crores of employees of the Employees' Provident Fund Organization (EPFO) are going to get good news soon. Till now, one has to wait for several days to withdraw money from the PF account, but after the new change, the PF money will be in your hands in minutes. The government is planning to introduce ATM cards to withdraw PF money soon. Apart from this, UPI can also be used to transfer money, for which EPFO ​​is talking to NPCI. Know how many days it takes to withdraw money from the PF account now? Till when will this money be able to be withdrawn from the ATM?

What is EPFO ​​3.0 version?

EPFO is going to launch its new EPFO ​​3.0 version soon. In this, account holders will get the facility to withdraw their funds directly from the ATM. This information has been given by Union Labor Minister Mansukh Mandaviya. In which it was told that EPFO ​​3.0 will be made like the banking system. After which employees will be able to transact money easily using their Universal Account Number (UAN). However, some terms and conditions will also apply for this, according to which money will be withdrawn. According to reports, this new facility is likely to start from June 2025.

UPI payment from PF

Apart from ATM, work is also being done on the use of UPI to give more relief to EPF members. According to media reports, EPFO ​​is talking to National Payment Corporation of India (NPCI) for this. If all goes well, by May or June, EPF members will also be able to transfer money through GPay, PhonePe and Paytm. This facility will provide great relief to those who have to withdraw money from PF in an emergency. Currently, this entire process takes about 8 to 10 days. Along with this, one can also avoid visiting any office or long process to withdraw money.