EPFO has introduced various new changes in the past two years to speed up PF claim settlements and make the process easier for everyone. These new updates were recently shared by Union Minister Shibha Karandlaje in the Rajya Sabha. The auto-claim limit is now Rs 1 Lakh, covering housing, education, and marriage advances. EPFO is also working to become faster and more user-friendly. Scroll down to learn more about the new changes and updates.
Here are the EPFO new changes you need to know about:
The limit for auto-approved advance claims is now Rs 1 lakh. You can get education, marriage, housing, and advances processed automatically.
If you have errors in your PF details then you can get it corrected easily. If your UAN is Aadhaar verified then you can fix all the errors on your without the need to visit EPFO.
You no longer have to wait for employer attestation for Aadhaar-verified UANs when transferring your PF. Only 10% of transfers now require manual approval.
EPFO has eliminated the requirement to submit a cheque leaf for KYC-compliant UANs. This reduced one hassle for you.
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If you are not sure of your eligibility regarding the claim, EPFO has built-in validations to help you check before applying, reducing rejected claims. Additionally, 99.31% of claims can now happen online without the need to visit an office.
To make PF withdrawals simpler, EPFO will soon introduce PF withdrawals through UPI and ATMs by May or June 2025 after approval from NPCI.
EPFO will soon reduce the validation steps for PF withdrawals 27 to 18, with plans to cut it to just 6 for quicker processing.
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