EPFO Update 2025: In the present moment both the employee and employer contribute 12 percent of the employee’s basic salary to EPF, DA and any retaining allowance, respectively. Employee’s contribution goes to EPF; while employer contribution is distributed in 3.67 percent (EPF) and 8.33 percent (EPS).
EPFO PF Withdrawal Via ATM/UPI: It is good news for the employees-account holders of the Employee’s Provident Fund Organization. This is the best part about the procedure for withdrawing money from the account PF is that no one needs to worry anymore since the new software will come to the scene very soon simplifying the issue for the users. Thereafter, EPFO subscribers will withdraw from their PF account directly via UPI and ATM.
As per the information, the central government plans to make EPF withdrawal easier. Under this, by integrating EPF into UPI, subscribers will withdraw money from their PF account through a digital wallet. Its blue print has been drawn up and talks are on with the National Payments Corporation of India (NPCI) to implement this facility. If all will be taken into consideration, this facility may be live on the UPI platform in 2-3 months.
You Will Be Able To Withdraw PF Money Easily
It has been rumored by the media that once UPI is integrated, the EPFO members can directly receive the claimed amount in their digital wallets for the withdrawal process that is going to be very fast and easy. It is estimated that this plan can be implemented by May-June of the year 2025 next year. The employer’s contribution will be determined on the employee’s salary, so that there won’t be any additional financial burden on the employer. Once this facility starts, employees can easily get the claim amount through digital wallets.
You Can Withdraw PF Money Using An ATM/UPI
The EPF withdrawal process takes about seven days to process at present, though after UPI integration, it should be processed within hours. It will cut down the chance of a claim being rejected and will enable greater transparency in transactions. Apart from that, moreover, EPFO would also consider ATM withdrawal facility for members under EPFO 3.0 program. The ATM card will work exactly like a debit card but to withdraw money, you need to first link UAN, authenticate via OTP and then withdraw the cash.
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