The
Employees' Provident Fund Organisation (EPFO), Ministry of Labour &
Employment, authorizes IDFC FIRST Bank
to facilitate provident fund payments.
July
06, 2026, MUMBAI: IDFC FIRST Bank has launched the Provident
Fund (PF) payment services through its
integration with the Employees' Provident Fund Organisation (EPFO), under the
Ministry of Labour & Employment,
Government of India.
This
integration enables establishments to initiate PF payments directly through the
EPFO portal and seamlessly complete
transactions via IDFC FIRST Bank’s Retail and Corporate Internet Banking
platforms. The solution offers a secure
and fully digital experience, with real-time transaction confirmations, an intuitive user interface, and instant challan
downloads for easy record-keeping and reconciliation.
Commenting
on the launch, Mr. Ashish Singh, Head - Retail Liabilities, IDFC FIRST Bank,
said, “We understand that timely
statutory compliance is a priority for every business, and we believe
managing these payments should be simple
and stress-free. With our EPFO integration, customers can now make provident fund payments quickly, securely,
and with ease through IDFC FIRST Bank’s digital platforms. This is part of our continued effort to
simplify banking and offer solutions that save time, reduce effort, and deliver a better experience for our
customers.”
IDFC
FIRST Bank is one of the few banks authorised to support statutory payments
across Direct Taxes (CBDT), GST, Customs
Duty, and EPFO, offering customers a comprehensive suite of solutions on a
single, integrated platform for all banking
needs .
The
EPFO integration further enables businesses to make digital payments
effortlessly throughout the year,
supporting efficient cash flow management and timely statutory compliance.
How
to pay Provident Fund on the EPFO portal using IDFC FIRST Bank:
●
Log in: https://unifiedportal-emp.epfindia.gov.in/epfo/
●
Create the challan(s)
●
Select IDFC FIRST Bank and complete the
payment securely
●
Download or print the paid challan for your
records
For
more information, please visit: https://www.idfcfirst.bank.in/business-banking/tax-payment
*The above process is subject to changes on
the EPFO portal and applicable system availability
Executive Summary: About the Bank
- Vision: To
build a world-class Bank in India, founded with principles of Ethical,
Digital, and Social Good Banking.
- Scale & Scope: We are one of India's fast-growing private sector banks, growing
at ~20%. As of March 31, 2026, the
Bank serves 38 million customers, with total deposits of Rs. 2,94,475 Crore and loans & advances of Rs.
2,90,278 crore. We operate through 1,147 branches and a highly rated digital platform. As a
universal bank, we offer a comprehensive suite of products and services across Retail, MSME, Rural,
Startups, Corporate Banking, Cash Management, Credit Cards, Wealth Management, Government
Banking, Trade Finance, Treasury and Working Capital solutions.
- Experience: We
build our UI, UX, and tech stack as required for a new age digital bank.
Our mobile banking is rated 4.9 on
Google Play Store with 20 million downloads and 1.1 million reviews.
The bank's app is rated #2 in the
world by renowned FORRESTER mobile experience rankings.
- Pull products: In
every product we launch, we create “pull” products that customers actively
seek out. For example, on savings
accounts, we offer monthly interest credit and attractive interest rates; in credit cards we offer zero
joining and annual fees without minimum spend conditions, we facilitate redemption of reward
points on any online site and not linked to catalogues, and so on.
- Ethical Banking: We do right even when customers are not watching. We simplify all
descriptions, calculations, and
legal jargon to avoid confusing customers. We avoid dark patterns.
- Digital Banking: Our tech stack is built on cloud-native, API-led,
microservices architecture,
supported with data, analytics, AI, and fine aesthetics. It delivers
high-quality service through all
channels including mobile, internet banking, call centres, and branches.
- Social Good: Our
business model is naturally aligned for the larger social good. We have
lent to over 3.6 million women
entrepreneurs, 7.5 million consumer durable, 2.5 lakh electric 2W and 3W vehicles, 2.7 lakh WASH (water,
sanitation, and hygiene) loans, 2 million cattle loans, and 300,000+ SMEs. Our ESG scores are high
and improving.
- Governance: We
adhere to regulatory guidelines in letter and spirit and actively work
with regulators to make things
better. We take pride in maintaining highest levels of corporate governance.
- Shareholders: We
are building a well-diversified universal banking portfolio designed
to deliver consistent ROE of 16%+
at scale.
- Employees: IDFC
FIRST Bank is designed to be a happy place to work, with enormous
growth opportunities, and a culture
of meritocracy. Compensation is healthy, and employees experience the pride and excitement of creating a
world-class Bank in India.