EPFO fast-tracks PF withdrawals, aims to settle claims within 24–48 hours
EPFO aims to settle most fresh PF withdrawal claims on the same day or within 24–48 hours, announced by Central Provident Fund Commissioner Ramesh Krishnamurthy at the Global Industrial Relations Summit in New Delhi.
The retirement fund body has nearly cleared its claim settlement backlog, with auto-settled claims reaching 90%.
EPFO will introduce PF claim settlement through the BHIM app, crediting claims directly to UPI-linked bank accounts, with rollout expected within about a month.
Krishnamurthy declined to comment on a potential EPF interest rate increase above the current 8.25%, calling it premature.
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