By Admin 
Epfo upi facility: If you work in government or any private sector and your PF is cut every month, then this news is for you. Actually, the Employees Provident Fund Organization (EPFO) is now going to intensify the process of PF claim through UPI.
Labor and Employment Secretary Sumita Davra said on Monday that UPI will be integrated into the EPFO system by the end of May 2025. This will benefit 7.5 crore active EPF members, whose money will be transferred to PF account immediately.
What will be the new system?
Claims up to Rs 1 lakh are already automated, now it will be faster than UPI. Apart from this, account holders will be able to link EPFO account in their UPI app (eg PhonePe, Google Pay, Paytm). At the same time, auto-calm facility will also be available. That is, if the member is eligible, then the money will be deposited immediately. Talking about now, it takes 3 days for claim processing, after coming to UPI, you will get money in a few minutes.
Database and pension system improvement
EPFO has created a centralized database for the first time, which will take 2-3 weeks to be fully stable.
78 lakh pensioners will now get pension from any bank (earlier only a few banks were notified).
The Centralized Pension System has been implemented on the advice of RBI.
New schemes related to employment
The budget of Employment Linked Incentive (ELI) scheme has been increased from 10,000 crores to 20,000 crore. Youth working, existing employees and platform workers will get the benefit. Under the online PMJAY scheme, platform workers will also get free health insurance.
How long will UPI get the facility?
EPFO has prepared a proposal by taking suggestions from the National Payments Corporation of India (NPCI). By the end of May, the UPI will be launched after front and testing. Let me tell you, till now PF was being talked about withdrawing money from ATM. It was also instructed by the EPFO that the facility with ATM will start in a few months. However, now if the PF account is directly linked to UPI, then there will hardly be the need of ATMs.
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