EPFO Achieves Record-Breaking 5 Crore Claim Settlements with Innovative Reforms

Union Labour and Employment Minister Dr Mansukh Mandaviya announced that the Employees' Provident Fund Organisation (EPFO) has crossed the 5 crore claims settlement mark for the first time in a fiscal year, processing over 5.08 crore claims in 2024-25. This milestone results from significant reforms to improve efficiency and reduce grievances.

In a major achievement, the Employees' Provident Fund Organisation (EPFO) has crossed the 5 crore claims settlement mark for the first time in a fiscal year, according to Union Labour and Employment Minister Dr Mansukh Mandaviya. The organization processed over 5.08 crore claims amounting to Rs 2,05,932.49 crore in the financial year 2024-25, surpassing the previous year's 4.45 crore claims worth Rs 1,82,838.28 crore.

Minister Mandaviya attributed this historical success to the transformative reforms implemented by EPFO to enhance claim settlement efficiency and reduce member grievances. Key measures included expanding auto-settled claims categories, simplifying member profile changes, and improving KYC compliance, all of which significantly boosted EPFO's operational efficiency.

A critical reform has been the auto-claim settlement mechanism, with settlements being completed within three days of submission. This innovation has resulted in auto claims doubling to 1.87 crore in the current financial year from 89.52 lakh in the last fiscal year. Streamlining the PF transfer process and member profile corrections have further expedited the workflow and reduced rejection rates, enhancing trust in EPFO's services.

(With inputs from agencies.)