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Bloomberg Quint

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Image Credit: Bloomberg Quint

EPFO's Reforms For Claim Settlement: Here's How They Impact Employees

  • The Employees' Provident Fund Organisation (EPFO) has introduced reforms to simplify the claim settlement process for EPF members and employers.
  • Members will no longer be required to upload an image of the cheque leaf or attested bank passbook while filing online claims, simplifying the documentation process.
  • EPFO has removed the requirement of needing approval from the employer for bank account seeding with the Universal Account Number (UAN), benefiting nearly 15 lakh EPF members.
  • These reforms aim to introduce faster, simpler, and hassle-free claim settlements, reduce claim rejection rates, and increase the overall efficiency of the system.

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