EPFO raises auto-settlement limit to Rs 5 lakh, streamlining claim process for 7.5 crore members; UPI, ATM access by 2025

The Employees Provident Fund Organisation (EPFO) in India has increased the auto-settlement of advance claims limit to Rs 5 lakh from Rs 1 lakh, benefiting 7.5 crore members. This decision, made during the 113th Central Board of Trustees (CBT) meeting, aims to improve the ease of living for EPFO members by streamlining claim settlements. Moreover, EPFO plans to introduce UPI and ATM withdrawals for Provident Fund access by June 2025, further enhancing the accessibility and convenience for its members.

In Trend

Chinese Property Giant Vanke Reports $6.8 Billion Loss in 2024 Amid Real Estate Crisis and Executive Resignations

Trump admin sweeps US campuses targeting foreign students with AI surveillance, visa revocations, ideological screening, risking funding cuts.

Leave a Reply

Your email address will not be published. Required fields are marked *