EPFO cites upgrade settles 11L claims worth ₹3,000 cr same-day
Business
EPFO just got a major speed boost thanks to its upgraded CITES platform. After a system blackout slowed things down, the new setup helped settle 1.1 million claims worth ₹30 billion in one day.
Most of the recent backlog is now gone. Now, 83% of claims are handled automatically, so if you file in the morning, you could get your money the same day.
EPFO credits interest, settles ₹5L advances
Nationwide claim settlements mean you're no longer stuck with regional delays.
Advances up to ₹500,000 are settled automatically, and changing jobs is smoother since Aadhaar-linked UANs move your funds without extra paperwork.
Plus, EPFO credited 8.25% interest early to 340 million accounts this year, and even small inactive accounts (up to ₹1,000) will see automatic payouts soon.