Provident fund online claim rules changed: How it affects you?
What's the story
The Employees' Provident Fund Organisation (EPFO) has simplified its online claim process by removing the requirement of uploading a scanned image of a cheque or bank passbook. The move is aimed at making the procedure more user-friendly and efficient. Earlier, members submitting claims had to upload these documents to verify their account details, which often led to errors or rejections if the images were unclear or missing details.
Process streamlining
Employer verification for bank account seeding removed
Along with the removal of the cheque upload rule, EPFO has also done away with employer verification for bank account seeding. This means members can now update their bank details directly through Aadhaar-based authentication. The move is aimed at further streamlining the process and making it more convenient for users.
Limit increase
EPFO raises advance claim settlement limit to ₹5L
In another significant development, EPFO has increased the auto-settlement limit for advance claims from ₹1 lakh to ₹5 lakh. The move will enable more members to access funds without manual intervention or verification. This will reduce delays in claim settlements. Union Labour and Employment Minister Mansukh Mandaviya announced the new limit yesterday.