EPFO to Revamp Software Application for Faster Settlement of Claims
6 months, 1 week ago

EPFO to Revamp Software Application for Faster Settlement of Claims

Deccan Chronicle  

New Delhi: Ministry of Labour and Employment Secretary, Sumita Dawra, chaired a review meeting on reforms in Employees Provident Fund Organization. For speedy disposal of claims, auto settlement of advances upto one lakh for illness, education, marriage and housing has been implemented by EPFO. The cheque book or passbook of bank account upload for the KYC Aadhaar linked accounts of members have been dispensed with, thus eliminating the scrutiny requirement in almost 13 lakh claims in last one month. EPFO is in the process of revamping its application software with the UAN based single accounting system for each member and automation of process flow with minimum human intervention for faster settlement of claims.

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EPFO is revamping its software: Here's how it will help subscribers in claim settlements
6 months, 1 week ago

EPFO is revamping its software: Here's how it will help subscribers in claim settlements

India TV News  

The Employees’ Provident Fund Organisation is currently updating its application software to include a UAN-based single accounting system for each member. Sumita Dawra praised EPFO's recent efforts to automate claim settlements and reduce claim rejections. The Secretary advised the EPFO to continue taking proactive steps for systemic reforms and urged the officials to work closely together for an effective social …

EPFO Introduced These Major Changes To EPF Rules; Know Key Changes
6 months, 2 weeks ago

EPFO Introduced These Major Changes To EPF Rules; Know Key Changes

News 18  

The Employees’ Provident Fund Organisation introduced some major changes for all members, mainly concerning the EPF claim process, to facilitate flexibility and convenience. Multi-location claim settlement: To fasten the EPF claim settlement process within the specified timeframes, EPFO introduced a link office setup for multi-location settlement. EPF death claims without Aadhaar seeding: In a new move to ease the process …

EPFO introduces auto claim settlement for education, marriage, housing
7 months, 1 week ago

EPFO introduces auto claim settlement for education, marriage, housing

Hindustan Times  

The Employees' Provident Fund Organization has announced the introduction of auto-mode settlement for advance claims related to education, marriage, and housing. This automated system processes claims without any human intervention, stated the Ministry of Labor and Employment in a release. During the financial year 2023-24, EPFO settled around 4.45 crore claims, out of which more than 60% claims were advance …

EPF withdrawal: EPFO launches AI tool to settle claims
4 years, 6 months ago

EPF withdrawal: EPFO launches AI tool to settle claims

Live Mint  

As the number of provident fund subscribers opting for EPF withdrawal went up substantially during the ongoing coronavirus pandemic, the Employees' Provident Fund Organisation was left overburdened with processing of claims. Despite the shortage of manpower, EPFO brought down the EPF withdrawal claim settlement period from around 10 days to roughly 3 days for COVID-19 related withdrawals. "Apart from commitment …

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