EPFO’s Accelerated Claim Settlement System

EPFO has embraced an “Ease of Living” initiative, streamlining its service delivery for claim settlements. This progressive move includes expanding auto-mode settlement for education, marriage, and housing purposes, benefiting millions of members nationwide. Originally introduced for illness advances in April 2020, the auto settlement threshold has now been raised to Rs. 1,00,000/-, significantly reducing processing time. During the last fiscal year, EPFO processed 4.45 crore claims, with over 60% being advance claims, of which 89.52 lakh were settled via auto-mode. The recent extension of auto settlement to education, marriage, and housing claims, coupled with the doubled limit, promises quicker access to funds for members’ crucial needs. With an IT-driven process, the turnaround time has been slashed from 10 days to just 3–4 days, ensuring prompt assistance. Since its nationwide launch on May 6, 2024, EPFO has already approved 13,011 cases, totaling Rs. 45.95 crore, under this groundbreaking initiative, underscoring its commitment to efficient service delivery. This notification was published on 13/05/2024.