Bhubaneswar, June 18 -- In a significant step towards improving convenience for EPF subscribers, the Union Labour Ministry is set to introduce a new system that will allow Employees' Provident Fund (EPF) members to withdraw their funds through UPI and ATMs. The initiative is being introduced under the EPFO 3.0 platform and is expected to make access to provident fund savings faster and more user-friendly.

Under the proposed system, subscribers will be able to withdraw EPF funds using UPI, similar to the way digital transactions are currently carried out through various payment applications. The move is aimed at simplifying the withdrawal process and reducing the time taken for members to access their money when required.

In addition to ...