The Employees’ Provident Fund Organisation (EPFO) has introduced major reforms to make EPFO claim settlement faster and easier for its members. These changes include simplified documentation, faster approvals, and the removal of unnecessary delays. Millions of employees will now benefit from a smoother process when withdrawing their provident fund (PF) money.
No More Cancelled Cheques or Passbook Uploads
One of the biggest reliefs for EPFO members is that they no longer need to submit cancelled cheques or attested bank passbooks when making online PF withdrawal claims. Previously, unreadable or incorrect document uploads caused delays and claim rejections. By eliminating this requirement, EPFO claim settlement will now be much faster.
Employer Approval No Longer Needed
EPFO has also removed the requirement for employer attestation for bank account verification. This decision is expected to reduce claim processing time by up to 13 days. More than 14.95 lakh pending claims will be processed quickly due to this change, providing immediate relief to many employees.
Higher Auto-Claim Settlement Limit
To make EPFO claim settlement even quicker, the organisation has raised the automatic claim limit from ₹50,000 to ₹1 lakh. This means members can withdraw amounts up to ₹1 lakh for housing, education, and marriage expenses without manual approval.
Currently, 60% of advance claims are auto-settled within three days. EPFO is also considering increasing the auto-claim limit to ₹5 lakh, which, if approved, will make the process even more efficient.
Self-Service Corrections for Members
EPFO has introduced self-service corrections for members with Aadhaar-verified Universal Account Numbers (UANs). Now, employees can update details like name and date of birth directly, without needing EPFO intervention. This change will resolve 96% of common errors automatically, ensuring a smoother experience for members.
Easier Bank Account Updates
Members can now update their linked bank accounts using Aadhaar-based OTP verification. This eliminates the need for employer approval and additional paperwork. Employees can change their bank details quickly by verifying their new account number and IFSC code through OTP authentication.
Future Plans: UPI and ATM Withdrawals
EPFO is also working on allowing PF withdrawals via UPI and ATMs, similar to normal bank transactions. This feature is expected to launch by mid-2025. Once implemented, employees will be able to withdraw their PF money directly using UPI apps or ATMs, making the process even more convenient.
Impact of These Reforms
These reforms have already benefited 1.7 crore members as part of a pilot program launched in May 2024. The aim is to reduce grievances and speed up processing for EPFO’s 7.7 crore active contributors. By removing unnecessary approvals and introducing technology-driven solutions, EPFO claim settlement is becoming more efficient than ever.
Employees across the country will now experience faster withdrawals, fewer delays, and improved access to their PF funds. With more reforms planned, EPFO continues to work towards making the claim settlement process as smooth as possible for its members.