Claim settlement process of Employees’ Provident Fund Organisation (EPFO) has been renewed completely in April 2025. This change has been made to simplify, speed up and make the claim settlement more accessible to all EPFO members. With this many new facilities attached to members along with the quick claim settlement, let us discuss these changes one by one.
Improvement In Claim Settlement Process
The foremost step taken by EPFO for claim settlement is also making it digital and automatic. At present, 95% of claims are being handled automatically within three days of application in respect of major claims in claim settlement. EPFO has used a centralized IT-enabled member database where claims can be settled automatically based on KYC verification, eligibility and bank details check.
Increase In Auto-Settlement Limit
The auto-settlement limits have gone up from ₹1 lakh to ₹5 lakh, i.e., EPFO will now extend this facility not only to advance illness claims, which was previously the case, but also to claims such as education, marriage, and even housing-related ones. This change will help members settle their claims quickly.
Reduction In Documentation
In the claim settlement process, EPFO has abolished any extra requisition of documents to simplify the procedure. Now, members will not have to upload a photo of a cheque leaf or a bank passbook. This is especially of use to members whose bank accounts are already linked with the UAN.
Impact Of New Reforms
These reforms have indeed accelerated the speed of claim settlement and reduced the rejection rate to 30% instead of the earlier 50%. The EPFO has completed a historic milestone of auto-settling 2.16 crore claims till March 2025, as compared to 89.52 lakh claims made in the preceding financial year by the members.
Withdrawal Through UPI And ATM
Now the members have the “UPI and ATM Withdrawal” facility coming into the system, which would probably be within May or June 2025, providing a very easy way to access the funds inside the account on the part of the member.
Future Prospects
These reforms of EPFO are a huge leap towards making the provision of financial services easier and looking for faster ways for members to use them. By adopting this digital and automated approach, EPFO has not only simplified the claim settlement process but has made the everyday life of its members better.
These changes of EPFO will not only bring financial security to members but also ensure a better quality of life. Interested in learning more about these reforms? Let’s go!
Also Read: Post Office MIS 2025: New Rules, Higher Returns And Greater Security, Check Details
