New technology helps EPFO clear claims faster
EPFO's new CITES 2.01 system, live since July 3, auto-processes 83% of subscriber claims, up from 70%.
The system processed a record 11 lakh claims worth Rs 3,000 crore in a single day, clearing backlog.
Same-day claim processing is possible for claims filed in the morning, and interest is credited faster.
Auto-settlement limit for advance claims raised to Rs 5 lakh, and interest is paid till final payment authorization.
EPFO automated credit of 8.25% annual interest for FY 2025-26 to nearly 34 crore members by Wednesday.
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Times of India
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Times Group
Bennett, Coleman & Co. (Sahu Jain family)
India's largest newspaper group by circulation.
Wikipedia: Sahu Jain family