EPFO raises advance claims limit to Rs 5 lakh, streamlining settlements for 7.5 crore members; UPI, ATM withdrawals coming.

The Employees Provident Fund Organisation (EPFO) in India has recently increased the auto-settlement of advance claims limit to Rs 5 lakh from Rs 1 lakh, benefiting 7.5 crore members and improving ease of living. This decision, made during the 113th CBT meeting, aims to simplify and expedite claim settlements for EPFO members. Furthermore, EPFO plans to introduce UPI and ATM withdrawals for Provident Fund access by June 2025, providing more convenient options for members to access their funds. These measures are part of EPFO’s ongoing efforts to enhance the efficiency and accessibility of its services for employees across the country.

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