EPFO aims to process most new claims within 2 days
The Employees's Provident Fund Organisation (EPFO) is almost done clearing its claim backlog and now aims to process most new claims on the same day or within two days.
At a recent summit, EPFO chief Ramesh Krishnamurthy shared that auto-settlement rates are reaching as high as 90%, and more reforms are coming to make things easier for both employers and members.
EPFO credited 1.44L/cr interest at 8.25%
Soon, you'll be able to get your EPF claim settled directly through the BHIM app, with money sent straight into your UPI-linked bank account.
There's also a plan in the works to bring gig and platform workers under social security cover.
And just this year, EPFO credited nearly ₹1.44 lakh crore in interest at an 8.25% rate to over 34 crore accounts, showing they're serious about being a trusted social security partner.