Private sector lender IDFC First Bank has introduced a new digital service that makes Provident Fund (PF) payments easier for businesses.
The bank has integrated its payment system with the Employees’ Provident Fund Organisation (EPFO) under the Ministry of Labour and Employment.
With this move, employers can now complete PF payments more quickly and conveniently through the bank’s online banking platforms.
How the New PF Payment Service Works
Under the new integration, establishments can start their PF payment process directly on the EPFO portal.
Once the payment request is generated, the transaction can be completed through IDFC First Bank’s retail or corporate internet banking platform.
This is expected to make the PF payment process faster, more secure, and hassle-free for businesses.
Bank Says the Service Will Improve Convenience
Ashish Singh, Head of Retail at IDFC First Bank, said the new integration will allow customers to make provident fund payments quickly, securely, and conveniently using the bank’s digital banking services.
The bank believes this initiative will simplify PF-related transactions while offering a smoother digital experience to its customers.
IDFC First Bank’s Growing Customer Base
As of March 31, 2026, IDFC First Bank had 38 million customers across the country.
During the same period, the bank reported total deposits of ₹2,94,475 crore, while its loans and advances stood at ₹2,90,278 crore, reflecting its continued growth in the banking sector.
