The executive committee of the Employees’ Provident Fund Organisation’s (EPFO) Central Board of Trustees (CBT) has approved the retirement fund body’s plan of integrating itself with United Payment Interface (UPI) to smoothly allow processing of claims by subscribers.
According to official sources, the committee, in its meeting held earlier this week, was briefed about the framework through which subscribers will be able to withdraw their provident fund claims via UPI platforms. On Friday, the EPFO’s CBT is likely to also give approval to such a framework.
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“By late April or early May, the facility of withdrawal of claims (through UPI) will become functional,” an official told FE. “The National Payment Corporation of India (NPCI) is examining the technical aspects, but is ready to execute the plan.”
Currently, the EPF is working on building a “centralised database” for a centralised payment system under the EPFO, which is expected to be operational by the end of March. The database will keep records of a subscriber at one place, even if they shift locations.
“The centralised database is necessary for withdrawal of claims through UPI. The moment it’s done, the feature (UPI withdrawal) will be rolled out,” another official explained.
Once the EPF is linked to UPI, subscribers will easily be able to access their claim amount through a digital wallet, the person added.
Over the past seven months, the EPFO has implemented significant reforms to enhance ease of living, focusing on improving pension services, streamlining provident fund (PF) claim processing, and upgrading its IT systems.
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“These reforms have enhanced service delivery for millions of EPF members and pensioners, with further improvements expected soon,” said Labour Secretary Sumita Dawra.
In FY25 so far, the EPFO has processed claims for over 50 million subscribers—the highest ever—disbursing more than Rs 2.05 lakh crore. In comparison, FY24 saw the settlement of 44.5 million claims amounting to Rs 1.82 lakh crore.
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