EPFO Automated System: EPFO has automated the claims related to medical emergency, housing, study and marriage expenses. With the implementation of this entire system, now the claims are processed within just three days.
EPFO News: If you are also employed and your PF is deducted every month, then this news is useful for you. Yes, the settlement of EPFO advance withdrawal claims has increased significantly. In this, 60% of the advance withdrawal claims are being settled through the automated payment system. Due to this, 2.16 crore claims have been settled in the current financial year, which is much more than the 89.52 lakh claims settled last year.
Advance claim limit increased to Rs 1 lakh
Labor and Employment Minister, Shobha Karandlaje gave information related to this in a written reply in the Lok Sabha. She said that the advance claim limit has been increased to Rs 1 lakh. After this, it has become easier for the members to get their money when needed. To further speed up the process, EPFO has automated claims related to medical emergency, housing, study and marriage expenses. With the implementation of this entire system, claims are now processed within just three days.’
Will be able to update information without EPFO approval
EPFO has introduced new measures to make it easier for its members to correct their information. Now, people with Aadhaar verified Universal Account Number (UAN) can update their information without the approval of EPFO. Currently, 96% of corrections can be done without visiting the EPFO office. This has made the process much easier for the users.
More than 99% claims are being filed online
Apart from this, nowadays more than 99% of claims are being filed online. By the beginning of March 2025, 7.14 crore claims were filed digitally. This digital process has reduced paperwork and has also increased its efficiency significantly. Apart from this, no employer verification is required for transfer claims of Aadhaar-verified UAN. All this has made things much easier for EPFO members.
Most Read Articles:
- Deposit ₹ 2 lakh in wife’s name and get guaranteed interest of ₹ 32,000, know the name of the scheme
- PPF vs SIP Returns: Which scheme will give you more than 1 crore sooner by investing ₹1,50,000 annually, see the calculation
- Credit Card Link UPI: Link your credit card to UPI from home, know step-by-step guide
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
