The Employees’ Provident Fund Organisation (EPFO) says it will soon automate the settlement of final provident fund (PF) withdrawal claims, aiming to speed up payouts to members’ bank accounts. EPFO’s Central Provident Fund Commissioner, Ramesh Krishnamurthi, said at an ASSOCHAM seminar that EPFO is moving toward “auto-settlement” for final withdrawals, a facility that is already available for certain advance withdrawals. Currently, partial or advance withdrawals up to ₹5 lakh are processed through an auto mode, with a stated deadline of three days from the date the claim is filed.
EPFO also indicates broader automation for PF-related transfers when a member changes employers. Officials say auto-processing and auto-transfer are being pursued to reduce manual steps, including eliminating the need for members to file certain forms in employer-change cases. EPFO serves more than seven crore members, and the stated goal of the changes is to make claim processing faster and more streamlined for eligible account holders.
