India's EPFO speeds up PF withdrawals, adds UPI and ATM options

The Employees' Provident Fund Organisation (EPFO) announced an overhaul of its provident fund (PF) withdrawal process, introducing an automated system that settles claims within 24–48 hours, with some payments credited the same day. The new system now handles about 90 % of claims automatically, a sharp reduction from the previous seven‑to‑ten‑day processing time, aiming to help subscribers facing medical emergencies, education costs, home purchases and other needs.

EPFO also outlined plans for a digital upgrade called EPFO 3.0, which will allow PF withdrawals via the Unified Payments Interface (UPI) and automated cash withdrawals at ATMs. While the UPI facility and ATM option are not yet live, the organisation expects the features to make fund access faster and more convenient for millions of Indian workers once implemented.