New Delhi. A major rule to PF has changed from April 1. Big news has come out from April 1 for crores of people associated with EPFO (Employee Provident Fund Organization). Under EPFO 3.0, now the method of withdrawing money from PF (Provident Fund) has completely changed. The biggest update is that now users can get their PF money directly into their bank account through UPI.
Till now, to withdraw PF one had to go through a long online process, which included filing a claim, waiting for approval and sometimes waiting for the money for weeks. In this new system, the focus has been on simplifying the claim process, increasing auto approval and making payments faster.
How to withdraw PF money through UPI (Step By Step Process)
Step 1: For this, first of all open EPFO portal or Umang app in your smartphone.
Step 2: Now select the option “Withdraw PF from UPI” (UPI Withdrawal) and enter the amount to be withdrawn.
Step 3: After this enter the UPI PIN to confirm your request.
Step 4: As soon as the money is in your bank account, you can withdraw cash from any UPI supporting ATM.
Step 5: Select “QR Cash” option on the ATM screen.
Step 6: Now scan the QR code visible on the screen and withdraw your money.
What is the difference between before and now?
To withdraw first PF: Claims had to be filed, approvals took time, and money took days or weeks to arrive.
Now after the new system: The process will be digital and fast, instant transfer will be possible through UPI, paperwork will be reduced. This change will be especially beneficial for those who need money immediately.
Keep these things in mind while withdrawing PF from UPI
To avail this facility, it is very important to fulfill some important conditions. First of all, your UAN (Universal Account Number) must be active and it is mandatory for your PF account to be linked to Aadhaar. Along with this, your mobile number should be linked to both Aadhaar and UPI app. The KYC of the bank must be completely updated and it must also be verified by your employer.
