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Home FINANCE PF Claim Settlements Rule: Now you can withdraw 5 lakh rupees from...
  • FINANCE

PF Claim Settlements Rule: Now you can withdraw 5 lakh rupees from EPF account! Claim settlement rules are going to change

By
Jyoti
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April 2, 2025
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    EPFO : The Employees’ Provident Fund Organization (EPFO) has announced a big relief for its 7.5 crore members. Now up to Rs 5 lakh can be withdrawn at a time under auto settlement.

    Earlier this limit was Rs 1 lakh, which has now been increased. With this, EPFO ​​members will be able to easily withdraw money for needs like medical emergency, education, marriage and buying a house.

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    EPFO members can now withdraw Rs 5 lakh

    Labor and Employment Ministry Secretary Sumita Davra approved this recommendation in the 113th meeting of the Central Board of Trustees (CBT) held in Srinagar on March 28. Now when it gets its final approval from the CBT, EPFO ​​members will be able to withdraw up to Rs 5 lakh for education, marriage, house and treatment.

    What is automated claim process?

    EPFO started an automated claim system for illness expenses in April 2020. In May 2024, its limit was increased from Rs 50,000 to Rs 1 lakh. Now this facility has also been implemented for education, marriage and buying a house.

    The specialty of this process is that 95% of the claims are settled in just 3 days. As of March 6, 2025, EPFO ​​has done 2.16 crore auto-claim settlements, which is many times more than the 89.52 lakh claims in 2023-24. This has also reduced the claim rejection rate from 50% to 30%.

    The process of withdrawing money from PF will now be easier

    EPFO has started auto-claim solution through IT system without any human intervention. Earlier there were 27 types of verification processes, which have been reduced to 18 and there is a plan to reduce it further.

    Now, claims with KYC, eligibility and bank validation from the centralized IT member database can be automatically settled in 3-4 days. Cases where verification cannot be done through the system will be investigated separately.

    Now you can withdraw PF through UPI and ATM also

    EPFO is now preparing to bring Unified Payments Interface (UPI) and ATM facility to make the method of withdrawing PF easier. The Ministry of Labor and Employment has approved the recommendation of NPCI, which plans to link PF withdrawal with UPI and ATM by May-June 2025.

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      Jyoti
      Jyoti
      Jyoti , has 2 years of experience in writing Finance Content, Entertainment news, Cricket and more. She has done BA in English. She loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @rightsofemployeescom@gmail.com

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