BUSINESS
Starting this month, employees will be able to withdraw their EPF funds using UPI! This update is here
The Employees' Provident Fund Organization (EPFO) will soon launch a new facility for the convenience of its employees. This will allow employees to withdraw their EPF funds directly through UPI.
The Employees' Provident Fund Organization (EPFO) will soon launch a new facility for the convenience of its employees. This will allow employees to withdraw their EPF funds directly through UPI.
According to reports, the EPFO has begun testing this feature in collaboration with banks. People will soon be able to access this facility. According to reports, this facility may be formally launched for employees by the end of December.
Under this new facility launched by the Employees' Provident Fund Organization, employees will be able to withdraw up to 75% of their EPF balance. However, employees must comply with the relevant terms and conditions. The rules require that an employee maintain a minimum balance of 25% in their EPF account. Through UPI, employees will be able to withdraw this money for purposes such as education, marriage, home purchase, or home renovations.
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