EPFO to increase auto settlement limit to 5 lakhs for PF claims

Quick Summary:

The Employees Provident Fund Organisation (EPFO) has raised the auto-settlement of advance claims limit to Rs 5 lakh from Rs 1 lakh, enhancing ease of living for 7.5 crore members.

The move, approved during the 113th CBT meeting, will streamline claim settlements.

Additionally, EPFO will enable UPI and ATM withdrawals for Provident Fund access by June 2025.

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Article Details

Author / Journalist: TOI Business Desk

Category: EconomyBusiness

Markets: IndiaEl Salvador

Topics: ATMs and UPI for PF access UPI withdrawals for PF members EPFO auto settlement limit EPFO claim settlement efficiency Provident Fund withdrawal process Business news EPFO advances claims Epfo

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-31 @ 23:15:51 (1 days ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 834 words

Reading Time: 5 minutes read

Sentences: 24 lines

Sentence Length: 35 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 27484208

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