EPFO announces major revisions for enhanced claim settlement | Fusion - WeRIndia

EPFO announces major revisions for enhanced claim settlement

EPFO announces major revisions for enhanced claim settlement

The Employees’ Provident Fund Organisation (EPFO) has introduced significant changes to the EPF claim process to enhance flexibility and convenience for its members.

These updates include auto-settlement, multi-location claim settlement, and expedited death claims. Here’s a detailed look at these recent revisions.

Key Changes in EPF for 2024

Recently, EPFO introduced auto-settlement for claims related to housing under Rule 68B and education and marriage under Rule 68K. Claims up to ₹1,00,000 will be processed automatically without human intervention, streamlining the procedure and reducing processing time.

To expedite the claim settlement process, EPFO has implemented a multi-location settlement system. This system allows for the distribution of claims processing across various offices, minimizing delays and enhancing efficiency. The new setup replaces the existing geographical jurisdiction structure, thereby improving productivity and speeding up claims processing.

EPFO has introduced a temporary measure allowing physical death claims without Aadhaar seeding. This change is designed to ease the process for claimants when Aadhaar details are unavailable. Approval from the Officer-in-Charge (OIC) is required, who will verify and record the deceased member’s details and relationship with the claimants. This provision is applicable only when the deceased member’s details in the UAN are accurate, but the Aadhaar database is not updated.

As per the circular dated May 28, 2024, EPFO has relaxed the rule requiring the upload of a cheque leaf image or an attested bank passbook for certain cases. This change aims to facilitate faster online claim settlements and reduce the number of rejected claims due to the non-submission of these images. The relaxation applies to cases where online bank KYC verification by the concerned bank or NPCI, employer verification using DSC, and Aadhaar numbers verified by UIDAI are in place.

These changes by EPFO are designed to enhance the efficiency and user-friendliness of the EPF claim process, making it more accessible and less cumbersome for members.

By introducing measures like auto-settlement, multi-location processing, and easing document submission requirements, EPFO aims to provide a more seamless and efficient service to its members.

Image Credit: Moulalisaheb.g, CC BY-SA 4.0, via Wikimedia Commonsl

Image Reference: https://commons.wikimedia.org/wiki/File:EPFO,Kadapa.jpg

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