Faster PF transfers, direct online claims: Check benefits of new EPFO rules
Trending News
2 months ago

Faster PF transfers, direct online claims: Check benefits of new EPFO rules

India Today  

In a landmark move, set to benefit over 65 million subscribers, the Employees’ Provident Fund Organisation has introduced significant reforms to fast-track provident fund transfers. Now, members with fully compliant e-KYC can now self-correct errors online without requiring employer intervention, approval of EPFO or additional documents. The newly introduced measures are expected to minimise the turnaround time, thereby benefiting about 94% of the 13 million claims filed during FY 2024-25, which would now instantly reach the EPFO. MINIMISING GRIEVANCES AND TURNAROUND TIME With the employer’s role being reduced to a great extent, the turnaround time for processing transfer claims will drop significantly. Subscribers with a Universal Account Number issued on or after October 1, 2017can now self-correct errors online without requiring employer intervention, approval of EPFO or additional documents.

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