Multiple reports say EPFO’s “EPFO 3.0” upgrade will enable subscribers to withdraw their EPF money through UPI and UPI-enabled ATMs. The proposed process includes instant withdrawal of up to 75% of an EPF member’s balance directly into a linked bank account, with access also expected via ATMs that support UPI. Several outlets indicate the option could roll out soon, including expectations around the end of the current month.
The changes also cover claim processing. NDTV reports the government has increased the auto-settlement limit for PF claims from ₹1 lakh to ₹5 lakh, which would allow eligible withdrawals to be settled without manual review up to the higher threshold.
On taxation, one report notes that withdrawal through the new channels does not remove tax rules; tax treatment depends on factors such as the member’s service tenure and the amount withdrawn. The sources collectively describe the initiative as aimed at faster, simpler withdrawals while keeping the existing regulatory framework, including tax outcomes tied to eligibility and circumstances.
