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Now EPFO ​​has increased the scope of Auto Claim Settlement to provide convenience to its users.

EPFO Auto Claim Settlement: Employees Provident Fund Organization (EPFO) has given a gift to its users. Let us tell you that EPFO ​​Scheme was started in the year 1952. This scheme was initially for government employees but later it was started for private employees also. In this scheme, a fixed amount is deposited in the PF Fund every month on behalf of the employee and the company. Interest in this fund is given by the government. This scheme is a retirement scheme.

Now EPFO ​​has increased the scope of Auto Claim Settlement to provide convenience to its users. This means that now claims for house construction, marriage or education will be settled quickly.

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EPFO has increased the auto claim settlement limit from Rs 50,000 to Rs 1 lakh. News agency IANS said that this information has been given by the Labor Ministry.

EPFO has launched Auto Claim Solution for this. In this, the claim will be settled through IT system. EPFO said that in the last financial year they have settled 4.5 crore claims.

More than 60 percent of these claims were advance claims. Let us tell you that the facility of auto mode for settlement of advance claim for the treatment of disease was started from April 2020 itself.

In these situations the claim will be settled quickly

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In the last financial year, there were approximately 89.52 lakh claims which were settled under auto-mode. Auto claim facility has also been introduced for para 68K (for education and marriage) and 68B (housing) of the EPF Scheme 1952.

Although earlier it used to take time to settle the claim but now it will not be so. Actually, there will be no human intervention in auto settlement due to which the claim will be settled quickly. Auto claim settle will be operated through IT system.

Even KYC, eligibility and bank authentication will be processed automatically by the IT tool. It is being said by the Ministry that earlier claim settlement used to take 10 days, now it will be completed in 3 to 4 days.

The ministry said that if any claim settlement is not done through the IT system, it will not be rejected or returned. If the claim is not settled through the IT system, it will be settled through second level scrutiny and approval.

After auto claim, claims made for housing, marriage or education will now be settled in less time, due to which EPFO ​​members will get the money as soon as possible.

(For more news apart from Former EPFO users will get a gift, now the claims of education, housing and marriage will be settled soon, stay tuned to Read Hindi)

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