Source | Livemint.com |
New Delhi: 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 1 May 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.