Synopsis
The EPFO has set a new record with 2.16 crore auto claim settlements in FY25, marking a significant increase from the previous year. Most claims are now processed online, providing members with a more efficient and convenient experience.Key Takeaways
- 2.16 crore auto claim settlements achieved in FY25.
- 99.31% of claims submitted online.
- Advance claim limit increased to Rs 1 lakh.
- 60% of advance claims processed automatically.
- EPFO to launch 'EPFO 3.0' for ATM withdrawals.
New Delhi, March 17 (NationPress) The Employees’ Provident Fund Organisation (EPFO) has reached a remarkable milestone by processing 2.16 crore auto claim settlements during the current financial year (up to March 6), a significant increase from 89.52 lakh in FY2023-24, as reported in Parliament on Monday.
According to Union Minister of State for Labour and Employment, Shobha Karandlaje, over 99.31 percent of claims are now submitted online, eliminating the need to visit the field office.
As of March 6, a total of 7.14 crore claims have been submitted online in FY 2024-25.
The limit for auto-mode processing of advance claims has been raised to Rs 1 lakh.
In addition to advancements for illness/hospitalization, auto mode processing is now available for housing, education, and marriage purposes, with 60 percent of advance claims processed in auto mode.
The EPFO states that auto-mode claims are settled within three days.
The process for correcting member details has been streamlined, allowing members with Aadhaar-verified UANs to make corrections independently, with approximately 96 percent of corrections occurring without EPFO intervention.
Furthermore, the requirement for employer’s attestation of Aadhaar-verified UANs in transfer claim submissions has been eliminated, with only 10 percent of transfer claims now needing both member and employer’s attestation.
The need to submit a cheque-leaf with the claim form has also been relaxed for KYC-compliant UANs meeting specified criteria.
EPFO has introduced de-linking options for members whose EPF accounts were mistakenly or fraudulently linked by employers, with more than 55,000 members having de-linked their accounts since the launch on January 18, 2025, as per Karandlaje.
The claim settlement procedure is being further enhanced with the centralization of member databases under the Centralized IT Enabled System (CITES 2.01).
Additionally, EPFO plans to launch a new system named 'EPFO 3.0', which will enable subscribers to withdraw their provident fund (PF) directly from ATMs, providing banking-like convenience along with various digital features for easier transactions.
