EPFO settles 5 crore claims worth over Rs 2L crore in FY25

In FY24, the retirement fund body processed 4.45 crore claims worth Rs 1,82,838.28 crore. A statement from the labour ministry said that reforms in the PF transfer claim submission process have streamlined the workflow significantly.

Since the launch of a simplified transfer claim application, only 8% of transfer claims now require member and employer attestation. About 48% of claims are submitted directly by members without employer intervention, while 44% of transfer requests are generated automatically, it added.

The minister said, “Since the introduction of simplified procedure, about 97.18% of member profile corrections have been self-approved by members, with 1% requiring employer approval, and office intervention has been reduced to just 0.4%.

The rejection cases have dropped to 1.11% by the employer and 0.21% by the regional office, reflecting effectiveness of streamlined processes and reduced procedural bottlenecks in claim settlements.” He said the EPFO will continue to leverage tech and process simplification to ensure a seamless and efficient service experience.