Mumbai, February 20:슬롯 머신 사이트 추천In a significant digital reform, the Employees슬롯사이트� Provident Fund Organisation (EPFO) is planning to introduce UPI-based withdrawals for provident fund (PF) claims, making the process faster and more efficient. The organisation is in talks with the National Payments Corporation of India (NPCI) to roll out this feature in the next few months. This move is expected to benefit EPFO슬롯사이트™s vast subscriber base by reducing withdrawal delays and ensuring seamless fund transfers. By linking PF withdrawals to UPI, the government aims to simplify financial transactions and improve accessibility for millions of employees.

Once launched, EPF claim amounts can be accessed directly via UPI-linked digital wallets, eliminating the need for traditional banking channels. The labour ministry, along with the Reserve Bank of India (RBI) and commercial banks, is currently working on upgrading EPFO슬롯사이트™s digital infrastructure to support the transition. With over 50 million claims settled in FY25 so far, this initiative is expected to further enhance operational efficiency. Here are all the details on EPFO슬롯사이트™s upcoming UPI-based withdrawal system.슬롯 머신 사이트 추천PF Withdrawal via ATM: EPFO Subscribers Will Be Able To Withdraw Money From Provident Funds Through ATMs From 2025, Says Labour Secretary Sumita Dawra.

Everything About UPI-Based EPF Withdrawals

Once implemented, the UPI-based provident fund (PF) withdrawal system will allow EPFO members to access their claim amounts directly through digital wallets linked to UPI. Subscribers can initiate withdrawals using their UPI ID, eliminating the need for traditional bank transfers. This integration is expected to significantly reduce claim processing time, as transactions via UPI are instant compared to the current system, which involves multiple verification steps and takes a few days. The move is part of EPFO슬롯사이트™s broader digital push to streamline operations and provide a hassle-free experience for its 7.4 million subscribers.슬롯 머신 사이트 추천UPI슬롯사이트™s Share in India슬롯사이트™s Digital Payments Surges to 83% in 2024, Grows at 74% CAGR Over Five Years Period: RBI슬롯사이트™s Payment System Report.

According to reports, EPFO has finalised a blueprint for this initiative and is in advanced discussions with NPCI. The feature is expected to roll out within the next two to three months. By linking EPF withdrawals to UPI, the government aims to enhance accessibility, especially for workers in remote areas, reduce paperwork, and ensure faster fund disbursement. Additionally, this step aligns with the Digital India initiative, reinforcing transparency and efficiency in financial transactions.

(The above story first appeared on LatestLY on Feb 20, 2025 02:26 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).