EPFO’s online PF withdrawal facility to take more time

Over 5 crore members of EPFO will have to wait for a few months to be able to use the online PF withdrawal facility as the retirement fund body wants the system to be “fool proof”. After the launch of this facility, subscribers will be able to apply online for withdrawal of the provident fund which will be transferred directly to their bank accounts.

At present, the subscribers who wish to settle their accounts with the Employees’ Provident Fund Organisation are required to apply manually for withdrawing PF. “We are working on it. But before launching it, we want it to be fool proof. We want a robust system as the funds would go out of EPFO hands unlike in online PF transfer claims where money is transferred from one account to another PF account,” said a senior official.

According to the information available, EPFO has not only become the registrar of Unique Identification Authority of India (UIDAI) for enrolment, but it is also an online authentication user agency of the authority.