The government is working on enabling the processing of Employees’ Provident Fund (EPF) claims by subscribers on United Payment Interface (UPI) platforms, for smooth transfer of funds.
According to an official source, the EPFO has prepared a blueprint to implement the plan, and is in discussions with the National Payment Corporation of India (NPCI) to roll out the feature on UPI-platforms in the next 2-3 months.
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The integration with UPI is another reform being undertaken by the EPFO to enhance its efficiency and increase accessibility for its 7.4 million subscribers. Sources say once the EPF is linked to UPI, subscribers will easily be able to access their claim amount through a digital wallet.
In collaboration with commercial banks and the Reserve Bank of India (RBI), the labour ministry is revamping EPFO’s digital systems to simplify withdrawals and improve user experience.
“The inclusion policy of UPI technology will enable members in remote areas to benefit from transaction simplicity which supports the Pradhan Mantri Jan Dhan Yojana,” said Rohitaashv Sinha, partner, King Stubb & Kasiva. It will also enhance EPFO’s capability to fulfill its statutory duties while improving operational efficiency, he added.
In the past six-seven months, to ensure ease of living, the EPFO has undertaken significant reforms aimed at improving pension services, streamlining claim processing for provident fund (PF), and enhancing information technology (IT) systems.
“These reforms have led to improvements in service delivery for millions of EPF members and pensioners, with more improvements to follow in the near future,” labour secretary Sumita Dawra told FE recently.
In FY25 so far, the EPFO has settled claims of over 50 million subscribers, the highest ever, and disbursed more than Rs 2.05 lakh crore. In FY24, the EPF had settled 44.5 million claims worth Rs 1.82 lakh crore.
Also, auto claim settlements, processed within three days, doubled to 18.7 million in FY25, compared to 8.95 million processed during FY24.
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Labour & Employment Minister Mansukh Mandaviya had said, earlier this month, that since the introduction of a simplified transfer claim application, only 8% of transfer claims now require member and employer attestation.
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