Employee Provident Fund Organization (EPFO) is working on a mobile app for its subscribers, which can be launched in April this year. Through this mobile app, EPFO subscribers will be able to transfer the money deposited in their PF account directly to their bank account through UPI. A top source has given this information. The source said that the Labor Ministry is working on a project under which a certain portion of the EPF will be secured, while a larger portion can be withdrawn by transferring it to a bank account through UPI.
Subscribers will get these facilities along with transferring the money deposited in EPF account.
The source said that EPFO will launch a new mobile app, through which EPFO subscribers will be able to withdraw money using UPI gateway and also avail other services like passbook balance. Currently, subscribers use the EPFO portal or ‘UMANG’ app to access their EPF account and avail services. These services will remain available on both the platforms, while the new app will improve access and delivery of services for EPFO subscribers.
Testing of the app is going on, problems are being resolved.
Subscribers will be able to view the eligible EPF amount available for transfer to their bank accounts through the mobile app, the source said. They will be allowed to use their UPI PIN to complete transactions, ensuring secure transfer of money to bank accounts. EPFO is currently testing this service and troubleshooting the app so that when it is launched, EPFO subscribers can avail all the features without facing any issues. The Labor Ministry is likely to launch this app on a large scale in April this year.
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