IDFC FIRST Bank launches EPFO-integrated PF payment service

IDFC FIRST Bank has gone live on the Employees' Provident Fund Organisation (EPFO) platform, enabling employers to initiate Provident Fund (PF) payments directly through the bank’s retail and corporate internet banking channels. The integration offers a fully digital experience with real‑time transaction confirmations, instant challan downloads and support for other statutory payments such as taxes and customs duties.

The EPFO has completed migration of its entire member database to a centralized national system under the CITES (Centralised IT Enabled Services) project. The new platform automates interest credit, claim settlement and PF transfers when members change jobs, and provides a unified digital portal where members can view balances, pension records and submit queries online. Faster electronic payments and higher auto‑settlement limits aim to reduce claim rejections and improve service speed for the estimated 34 crore members.