EPFO reduces claim settlement (withdrawal) period to 10 days

EPFO Reduces Wait For Pension, Provident Fund Withdrawal To 10 days

Retirement fund manager EPFO has reduced the stipulated period for settlement of various claims such PF withdrawal, pension and insurance to 10 days from 20 at present.

In July 2015, the Employees’ Provident Fund Organisation (EPFO) had reduced the timeline for settling various claims to 20 day to improve the service delivery for its over four crore subscribers.

The body has launched the online claim settlement facility on May 1, 2017. It has planned to eventually settle claims of all Aadhaar and bank account seeded EPF accounts within three hours of receipt of an application.

It is a step towards paperless court system wherein court procedure of EPF & MP Act, 1952 and EPFAT (tribunal) will take place in a digital environment.

Further, in order to facilitate easy access to the tribunal, automated messages will be sent to the litigants on their registered mobile numbers on the status of their cases.

The stakeholders can also track the individual cases online, it said. Now the parties can file all their paper/evidence/ documents online and all the details along with status can be accessed online.

Updation is an important part of e-court management system in which digital case record will create a digital database which can be utilised to generate meaningful and accurate reports, it said.

 

Sources: NDTV, Hindustan Times

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