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MMBAI In Mumbai:mbreUnion Minister of Labor and Employment and Youth Affairs and Sports Mansukh Mandavia announced that the Employees Provident Fund Organization (EPFO) has achieved a historic achievement for the first time by crossing the disposal of 5 crore claims. In the financial year 2024-25, EPFO ​​has settled over 5.08 crore claims of Rs 2,05,932.49 crore, which is more than Rs 1,82,838.28 crore claims of Rs 1,82,838.28 crore, which is dealt with in the last financial year 2023-24. Minister Mandavia highlighted that this remarkable achievement has been possible due to a series of transformational reforms initiated by EPFO ​​to increase claim settlement procedures and reduce complaints among members.

“We have implemented major measures including the increase in the limit and categories of self -dealing claims, simple changes in member profiles, streamlined PF transfer and better KYC compliance ratio. He said that these reforms have made significant improvements in the efficiency of EPFO. The claim has been a major assistant auto-calm settlement mechanism to accelerate the process, which ensures that the claims are dealt with within three days of being submitted. Dr. Mandavia said that the impact of this reform is clear, the auto claim settlement has doubled to 1.87 crore in the current financial year, while 89.52 lakh auto claims were processed during the entire financial year 2023-24. The minister also emphasized the impact of member profile reforms. He said, “Since the introduction of the simplified process, about 97.18% of the member profile reforms have been approved by the members themselves, requiring the approval of the employer for only 1%, and the office intervention is reduced to only 0.4%. In addition, cases of rejection by employer are reduced to 1.11% and 0.21% by the regional office, which reflects the effectiveness of streamlined processes and reducing procedural obstacles in claim disposal. ” Similarly, improvements in PF transfer claim submission process have strengthened the workflow to a great extent.

Since the onset of simplified transfer claim application, now only 8% transfer claim requires the verification of the member and employee. Remarkable, 48% of claims are presented directly by members without the intervention of the employer, while 44% transfer requests are generated automatically. The minister confirmed the government's commitment to make access to EPFO ​​members easier, and emphasized that the organization would continue to take advantage of technology and process simplification to ensure a uninterrupted and efficient service experience. “These reforms have not only intensified the claim settlement process, but have also contributed to reducing the complaints of the members, which further strengthened the confidence in the EPFO,” he said.