Union Minister Mansukh Mandaviya said that the Employee Provident Fund Organization (EPFO) has achieved a historic milestone by settling more than 5 crore claims for the first time. In the financial year 2024-25, EPFO ​​has settled 5.08 crore claims worth Rs 2,05,932.49 crore, which is much more than the 4.45 crore settlements of Rs 1,82,838.28 crore in the financial year 2023-24.

The Labor Minister said, this achievement by EPFO ​​​​has been possible due to the transformational reforms taken in the claim settlement process and resolving grievances. Mansukh Mandaviya said, we have taken steps like increasing the limit and category of auto settlement claim, simplification of changes in member profile, streamlining the process of Provident Fund transfer and improving KYC compliance ratio. Due to these reforms, the efficiency of EPFO ​​has improved significantly.

EPFO Claim Settlements: EPFO ​​(Employees Provident Fund Organisation) has created history in the matter of Provident Fund claim settlement. In the financial year 2024-25, the Employees Provident Fund Organization has settled more than 5 crore claims which is a record. Labor and Employment Minister Mansukh Mandaviya has given this information.

Highest Ever EPFO Claim Settlement in History! 🇮🇳

📌 5 crore+ claims settled in FY 2024-25.

💰 ₹2.05 lakh crore disbursed.

⚡ Auto-claim settlements doubled to 1.87 crore.

🔄 Seamless processes & reduced grievances.

Under the leadership of PM Shri @narendramodi Ji, EPFO… pic.twitter.com/Hq4jNbwYQV

— Dr Mansukh Mandaviya (@mansukhmandviya) February 6, 2025

Union Minister Mansukh Mandaviya said that the Employee Provident Fund Organization (EPFO) has achieved a historic milestone by settling more than 5 crore claims for the first time. In the financial year 2024-25, EPFO ​​has settled 5.08 crore claims worth Rs 2,05,932.49 crore, which is much more than the 4.45 crore settlements of Rs 1,82,838.28 crore in the financial year 2023-24.

The Labor Minister said, this achievement by EPFO ​​​​has been possible due to the transformational reforms taken in the claim settlement process and resolving grievances. Mansukh Mandaviya said, we have taken steps like increasing the limit and category of auto settlement claim, simplification of changes in member profile, streamlining the process of Provident Fund transfer and improving KYC compliance ratio. Due to these reforms, the efficiency of EPFO ​​has improved significantly.

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The post PF Claim Settlements: EPFO Achieves Historic Milestone of Settling Over 5 Crore Claims in FY 2024-25 first appeared on Rightsofemployees.com.

Now the employees and pensioners coming under the ambit of Employee Provident Fund Organization are protesting to demand that the minimum pension received under EPFO’s pension scheme EPS-95 should be increased to Rs 7500 every month. Are going. A rally of these employees and pensioners is going to be held in Delhi on Thursday, December 7, 2023.

EPS-95 National Struggle Committee (NAC) issued a statement on Wednesday saying that the committee is going to hold a rally at Ramlila Maidan in support of its demands. The committee claims that 50,000 employees and pensioners from across the country will participate in this rally in support of other demands including increasing the minimum pension to Rs 7,500 every month.

The pensioners are demanding to increase the basic pension to Rs 7,500 monthly along with dearness allowance and to provide free health facilities to the spouses of the pensioners. At present, the minimum pension under the Employee Pension Scheme EPS-95 is Rs 1,000 per month. After the rally at Ramlila Maidan, pensioners will also fast at Jantar Mantar from December 8.

Retired Commander Ashok Raut, chairman of the committee, said, we will hold a rally at Ramlila Maidan on December 7 in support of our demands. He said that this is the last warning to the government and if his demands are not met, he will fast unto death. 12 percent of the basic salary of the employees covered under the Employees Pension Scheme EPS-95 goes to the Provident Fund.

Whereas out of 12 percent of the employer’s share, 8.33 percent is deposited in the Employee Pension Scheme. Apart from this, the government also contributes 1.16 percent to the pension fund. Ashok Raut said, even after working for thirty years and continuously contributing to the EPS based pension item, the employees are getting such a small amount as monthly pension, due to which the life of the employees, pensioners and their family members has become difficult.

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As we know, the last date for submission of Life Certificate is ending on 30th November. If it is not deposited by this date, then the pension may stop. However, this rule does not apply to the beneficiaries of the Employee Pension Scheme. Its information has been tweeted by EPFO ​​itself. It has been said in this tweet that for those who get EPS pension, the deadline for submission of life certificate is not 30 November. Pensioners can now submit life certificate at any time of the year.

Life certificate validity now 1 year

EPS pensioners can now submit life certificate at any time of the year, whose validity will be for 1 year from the date of submission. For example, if a pensioner submits a life certificate today, its deadline will end on November 17, 2023. During this, he can submit the life certificate again at any time. The deadline for submission of life certificate for other pensioners ends on 30 November every year.

EPS’95 पेंशनभोक्ता अब किसी भी समय जीवन प्रमाण पत्र जमा कर सकते हैं जो जमा करने की तारीख से 1 वर्ष के लिए वैध होगा।#EPFO #Pension #AmritMahotsav @AmritMahotsav pic.twitter.com/gxfzPpElVv

— EPFO (@socialepfo) November 17, 2022

Where can I submit the digital certificate?

According to the tweet made by EPFO, now the pensioner can submit the life certificate at any time of the year. If digital life certificate is to be submitted, then it can be submitted to Pension Disbursing Bank, Common Service Center, IPPB i.e. India Post Payment Bank, Post Office, UMANG App and any EPFO ​​office nearby.

What are the requirements for Life Certificate?

At the time of submission of Life Certificate, it is necessary to have PPO i.e. Pension Payment Order Number, Aadhaar Card, Bank Account Detail, Mobile Number which is linked with your Aadhaar.

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Provident Fund is a social security investment tool run by the government through EPFO ​​or Employee Provident Fund Organization. It is a popular medium of investment to build the corpus for retirement. With this, not only do you save for yourself, investing in PF also provides security to your family. In this, the benefit of EDLI (Employee’ Deposit Linked Insurance) is available, under which, on the untimely death of the PF member, his nominee is given an insurance benefit of up to 7 lakhs.

Can calculate pension and EDLI benefits amount

Considering the convenience of its subscribers, EPFO ​​gives this facility to their subscribers that they can calculate in advance how much pension and EDLI benefit they will get on their deposits and on total investment.

EPFO provides a calculator to calculate EDLI benefits and pension on its official website. You can check how much monthly pension and EDLI benefits you will get on PF account by giving some details of your job and income. Here we are telling the complete process to check it step-by-step.

1. How to Check EDLI Benefits (EDLI Calculator)

Go to the official website of EPFO.
Under the Online Services tab on the dashboard, you will see the option of EDLI and Pension Calculator, click on it.
After this a new page will open in front of you. In a box, you will see two options – EDLI Benefit Calculator and Pension Calculator.
– Inside the EDLI Benefit Calculator, you will have to give information about the date of death of the EPFO ​​member, average progressive balance and average salary of the deceased for the last 12 months.
After entering the details, click on show Updated Calculation, you will get to know the amount of EDLI benefits.

2. How to Calculate Pension (Pension Calculator)

-The initial process of Pension Calculator is the same as that of EDLI Calculator. After coming to the page of the pension calculator, the process is given below
– you have to enter your date of birth. Along with this, you will have to give details like joining, leaving, etc. After this click on Show / Update details.
After this the system will show you the date of completion of 58 years of age, 50 years of age for early pension and pension starting date for monthly pension amount.
You can get early pension after the age of 50, but the pension amount will be reduced. At the same time, at the age of 58, you will get the full pension benefit.
You enter the pension starting date and salary for pension in the calculator and click on Show / Update details. The system will show you your superannuated monthly pension amount.

Keep these things in mind while calculating EDLI benefits and pension-

– It is not necessary that the calculated amount is correct, it can be here and there.
If the PF member has died in September, 2022, then the progressive balance will be calculated from September, 2021 to August 2022.
Progressive balance will be the total of the PF balance of the employee and the employer and the pension contribution of the last 12 months. You can also check this balance from EPF passbook.
– Pension Calculator does only superannuation pension and early pension calculator.

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