EPFO to Credit PF Interest Soon: Expected by May-June
The Employees' Provident Fund Organisation (EPFO) plans to credit PF interest starting in April, with all payments expected by May-June. Meanwhile, EPFO 3.0 is set for a significant upgrade, allowing users to withdraw funds directly from ATMs via UPI.
Highlights
- •EPFO Plans Interest Credit Starting April
- •Deposit Expected by May-June
- •EPFO 3.0 Implementation Awaiting April 1, 2026
- •ATM Withdrawals Possible with UPI
The Employees' Provident Fund Organisation (EPFO) is set to make a significant move, with plans to credit the declared 8.25 percent interest for the financial year 2025-26 starting in April, with all payments expected by May-June.
Following approval from the EPFO's Board of Trustees, the Labour Ministry has confirmed that a notification is awaited from the Finance Ministry before the process can begin. Sources indicate that the Finance Ministry typically approves decisions made by the EPFO Trustee Board as it does not bear any financial burden since interest income funds these operations.
Notably, Labour Minister Mansukh Mandaviya has directed the EPFO to prioritize the speedy deposit of interest amounts into account holders' accounts. This move comes amid anticipation that the Finance Ministry will approve the rate by April's first half, ensuring timely payments as per instructions.
Key Changes Awaiting Implementation
Alongside credit procedures, EPFO is preparing for a significant upgrade with EPFO 3.0, set for implementation next month on April 1, 2026. This new system offers improved accessibility and efficiency with plans for ATM withdrawals using Unified Payments Interface (UPI) direct from PF balances.
While the exact withdrawal limits are yet to be detailed by EPFO, it's anticipated that users will be able to access up to 50% of their account balance, promoting financial prudence among members who can better manage their savings while ensuring some funds remain for emergencies.
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