The Employees' Provident Fund Organisation (EPFO) is

The Employees' Provident Fund Organisation (EPFO) is preparing to launch its version 3.0 framework. This will enable more than eight crore subscribers to transfer eligible portions of their provident fund instantly into their seeded bank accounts. Union Minister of Labour & Employment Mansukh Mandaviya confirmed that technical testing for the specialized UPI gateway has concluded, clearing the path for a nationwide commercial deployment.

The upcoming feature changes the fundamental delivery mechanism of retail retirement liquidity. Rather than waiting for complex banking transactions to clear, members can authorize withdrawals directly using their active UPI IDs and secure PIN authentication.

"We have completed the testing of the facility where members can withdraw EPF through the use of the UPI payment gateway," Union Minister Mansukh Mandaviya stated. "The withdrawn amount will be directly transferred into the bank account of the member."