Top News

New DelhiNew Delhi,The Employees Provident Fund Organization (EPFO) said on Thursday that more than 5 crore claims have been settled in FY 2024-25 so far. This is the largest number of claims dealt with by a government agency. The EPFO ​​said, “5.08 crore claims were settled in FY 2024-25 and a total of Rs 2.05 lakh crore was paid. In the last financial year, 4.45 crore claims were settled and Rs 1.82 lakh crore was paid. ”

The reason for the EPFO ​​disposal of record claims in the current financial year is the implementation of reforms and simplification of the process. The limit and category of automated claim settlement has been increased by the EPFO. Automated claim settlement is paid within three days. In this financial year, the number of such claims has doubled to 1.87 crore, while in the financial year 2023-24 it was 89.52 lakhs. Apart from this, the EPFO ​​has given the facility of self -improvement in the profile to the members. Provident Fund (PF) transfer process has also been made easier and now requires less approval from employers.

By simplifying the PF transfer process, now 48 percent of the claims are sent directly to EPFOs without the approval of the employer. 44 percent of PF transfer are being done through automated systems. Only 8 percent of cases require the permission of the employer. EPFO is facilitating members of self -improvement in profiles; 97.18 percent connections are being sanctioned by the member. Only one percent of cases require the permission of the employer. Only 0.4 percent of cases require approval of EPFO ​​officials. According to the EPFO, there has been a huge decline in rejected claims and only 0.21 percent claims are being rejected.