The Employees' Provident Fund Organisation has introduced two new methods to simplify claim settlements, making it easier for both members and employers.
These changes are expected to speed up claim processing for around 8 crore members and reduce problems related to claim rejections.
Previously, the EPFO members had to upload a cheque image or an attested copy of their bank passbook when filing online claims. Employers also had to verify the bank account details of applicants. Now, these steps have been removed, streamlining the process and improving convenience for both members and employers.
Under the leadership of PM Shri @narendramodi ji, EPFO continues its reform journey!
April 3, 2025
Two major reforms have been introduced to make the claim settlement process simpler, faster, and hassle-free for crores of EPF members & employers:
✅ No need to upload image of cheque leaf/… pic.twitter.com/YScWOkw0gnThis relaxation started as a pilot programme for KYC-updated members on May 28, 2024, benefiting 1.7 crore members. Following its success, EPFO extended it to all members. Since bank accounts are already verified during their linkage with Universal Account Numbers, extra documents are no longer needed. This eliminates claim rejections due to unreadable uploads and reduces related complaints.
In 2024-25, 1.3 crore members requested to link their bank accounts, which involved verification by banks and approval from employers. While banks took three days to verify, employers took an average of 13 days, causing delays. EPFO's changes aim to reduce this workload and speed up the process.
Out of 7.74 crore members who are presently contributing each month, already 4.83 crore members have seeded their bank accounts with UAN with 14.95 lakh approvals are pending at the level of employers.
Since the need for employers' approval is no longer required, this will immediately benefit over 14.95 lakh members whose approvals are pending with the employers.
According to the statement, the simplified process will also facilitate those who want to change their already seeded bank account by entering their new bank account number along with the IFSC code duly authenticated through Aadhaar-based OTP.
(With PTI Inputs)
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