The central government has brought some good news to nearly 8 crore Provident Fund (PF) subscribers. Previously, withdrawing PF funds in an emergency was very difficult. But now, all that is changing. You can withdraw money from your PF account in seconds using UPI, just like you make everyday payments using Google Pay or PhonePe. Union Labour and Employment Minister Mansukh Mandaviya has confirmed that trials of the new "EPFO 3.0" service were successful and will soon be available to the public.

EPFO 3.0: No paperwork... get weeks' worth of work done in seconds

In the old system, it took at least 7 to 10 days to receive your PF funds. If you wanted to withdraw more than ₹1 lakh, you had to go through mandatory manual verification. Even a small error in documents could result in your claim being rejected. However, the upcoming EPFO ​​3.0 system has zero paperwork. The best part? You don't even need your employer's approval. Claims are settled directly online. For emergencies like illness, marriage, education, or home construction, the money will be credited to your bank account within 3 days.

How does the UPI withdrawal process actually work?
So, how do you withdraw money using this new technology? First, you need to log in to the UMANG app. The screen will clearly display how much you can withdraw from your PF account. After that, you just need to select the amount you need, enter your UPI PIN, and the money will be credited to your PF-linked bank account within seconds. You can then withdraw this cash from a UPI-enabled ATM or use it directly for online payments. The system has just completed testing; the official launch date for public use will be announced soon.

Can you withdraw as much as you want? What are the rules?
Just because UPI withdrawals are easy doesn't mean you can empty your account. EPFO ​​has set strict conditions to protect your retirement savings. A total of 25% of your PF balance will always be locked. In case of an emergency, you can withdraw only 50% to 75% of the remaining balance. Your 'eligible balance' will be clearly displayed on the app to avoid any confusion. To use this facility, you must have an active UAN, and your PAN card details must be linked to it. Most importantly, your name and date of birth in the PF records must exactly match your Aadhaar card details.

Check PF Balance on WhatsApp...  
To make PF information even easier for regular employees, EPFO ​​is launching a new WhatsApp chatbot. There's no need to search Google or log in to websites with passwords. You can instantly check your PF balance and withdrawal limit by sending a simple WhatsApp message. This super digital transformation, implemented by the central government using technology, is great news for millions of employees.

PC: AajTak