PF withdrawals via UPI, ATMs: Rollout by Diwali?

• EPFO 3.0 launch aims to ease fund withdrawals via UPI, ATMs for 8 crore EPF members.
• Meeting on Oct 10-11 will discuss facilities akin to banking services for subscribers.
• Upgrade simplifies claims online, enhances convenience, aligns with Digital India vision.

EPFO 3.0: The long wait for EPFO 3.0 for over 8 crore EPF members appears to be coming closer and could change their experience once and for all before this Diwali. A major system overhaul, which is dubbed

as “EPFO 3.0” will ease the funds withdrawal process for members through UPI and ATMs and make services more transparent and quicker.

The launch, which was expected in June 2025, has been delayed due to technical reasons and tests. However, some reports suggest that the managing organization, Employees Provident Fund Organization (EPFO) will soon launch its digital platform EPF0 3.0.

According to Economic Times report, a meeting led by Union Labour and employment minister Mansukh Mandaviya is scheduled for October 10-11.

The ET report stated that the meeting will focus on discussing certain facilities to subscribers on par with banking services like UPI and ATMs withdrawal of funds.

So far, EPFO members can withdraw funds online or offline by submitting claims (Form-31, 19, 10C and 10D) and bank account details. They are required to submit documents for particular reasons, including house or medical.

For offline withdrawal, they can fill up composite claim form, attach the necessary documents and submit at the regional EPFO office or through employer.

How Will ATM and UPI Withdrawals Work?

Though the precise operational details are awaited, the EPFO 3.0 upgrade is expected to integrate PF accounts with the broader financial infrastructure supporting the Unified Payments Interface (UPI) and ATM networks. This would allow subscribers to withdraw eligible EPF funds directly via UPI apps or bank ATMs, possibly using a secure PIN or Aadhaar-based verification. Withdrawal limits and conditions are likely to be implemented to ensure fund safety and compliance.

Benefits of Digital Withdrawals

Experts suggest the new digital withdrawal methods promise multiple benefits. Firstly, it enhances convenience by eliminating paperwork and lengthy waiting periods. Secondly, it enables anytime, anywhere access to EPF savings, crucial in emergencies. Thirdly, it aligns with the broader vision of Digital India and financial inclusion by integrating government-backed savings schemes with the digital financial ecosystem commonly used by most Indians.

Online Claims And Seamless Experience

Moreover, EPFO 3.0 aims to simplify the process of applying for claims via online, removing the requirement of visiting EPFO office to correct their PF claims and personal details. Along with that, it will employees will get a better and user-friendly digital interface while using the EPF services, such as easily tracking the status, contributions and other details of their PF accounts.