VMPL
Mumbai (Maharashtra) [India], July 6: 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
1) Vision: To build a world-class Bank in India, founded with principles of Ethical, Digital, and Social Good Banking.
2) 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.
3) 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.
4) 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.
5) 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.
6) 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.
7) 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.
8) 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.
9) Shareholders: We are building a well-diversified universal banking portfolio designed to deliver consistent ROE of 16%+ at scale.
10) 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.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same.)
