EPFO Reforms Propel Record Claims Settlement Milestone
The Employees' Provident Fund Organisation (EPFO) set a new milestone by processing over 5.08 crore claims worth Rs 2,05,932.49 crore in the 2024-25 fiscal. This achievement is attributed to significant reforms in claim processes, auto-claim settlement mechanisms, and member profile correction procedures, as highlighted by Labour Minister Mansukh Mandaviya.
- Country:
- India
The Employees' Provident Fund Organisation (EPFO) has crossed a historic milestone by settling 5.08 crore claims in the 2024-25 fiscal, as announced by Labour Minister Mansukh Mandaviya.
This unprecedented achievement, amounting to Rs 2,05,932.49 crore, surpasses the previous year's settlements and is a result of transformative reforms initiated by the EPFO.
Key measures such as auto-claim settlements within three days, streamlined PF transfer processes, and enhanced KYC compliance have played a pivotal role in this success, reducing procedural bottlenecks and enhancing service efficiency.
(With inputs from agencies.)
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