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EPF Withdrawal from UPI: A relief news has emerged for the employed people. Now employees can transfer their Provident Fund (PF) money directly to their bank account through UPI payment gateway without any hassle. Its testing has also been completed, so that now employed people can easily withdraw PF. Labor Minister Mansukh Mandaviya himself has given this information.

Minister Mansukh Mandaviya gave information

Minister Mansukh Mandaviya announced that the testing phase of UPI-based EPF withdrawal has been successfully completed. Once launched, EPFO ​​members will be able to transfer their eligible EPF funds directly to their bank accounts through the UPI payment gateway. The Labor Ministry is working on a system under which a part of the EPF balance will remain locked, while the remaining eligible amount can be withdrawn immediately through UPI-linked bank accounts.

You can transfer money through UPI PIN

Through this, users will be able to see the amount available for withdrawal and transfer it to their bank accounts which are linked to EPFO ​​records. To complete this transaction securely, users must authenticate using their UPI PIN.

How to withdraw PF money now?

• Currently, to withdraw EPF money, a claim has to be made, which takes time.
• Under the auto-settlement system, the money is received within 3 days after application.
• There is no manual process required in this, the money is transferred directly electronically.
• Earlier the limit of this facility was Rs 1 lakh.
• Now it has been increased to Rs 5 lakh.

The post EPF Withdrawal from UPI: Withdrawal of PF money becomes easier! Now funds will be available directly from UPI, testing completed appeared first on Latest.