The new software is being developed in consultation with the Center for Development of Advanced Computing (CDAC).
The issue was discussed in a meeting chaired by Sumita Dawra, Secretary, Ministry of Labor and Employment, on Thursday to take stock of the reforms being done in EPFO. He highlighted the need for expansion of social security and new initiatives for ease of living and ease of doing business. Operational reforms in litigation management and audit were also discussed during the meeting.
Sumita Dawra appreciated the recent steps taken by EPFO to automate claim settlement and reduce rejection of claims.These include automatic settlement of advances up to Rs 1 lakh for illness, education, marriage and housing, resulting in faster settlement of claims. Around 25 lakh advance claims have been settled on auto mode. More than 50 per cent of sickness claims settled so far have been settled on auto mode. According to the Labor Ministry, this has increased the speed of settlement of claims and a large number of claims are now being settled within three days.
Bank account upload chequebook/passbook for KYC Aadhaar linked accounts of members has been dispensed with, thus eliminating the need for verification in approximately 13 lakh claims in the last one month.EPFO has also reduced and rationalized the comments for return of incomplete cases and rejection of ineligible cases for easy understanding of the members.
According to data compiled by EPFO, the number of auto transfers generated has also increased three-fold, from two lakh in April 2024 to six lakh in May 2024.
The Secretary advised EPFO to continue proactive steps for systemic reforms. He urged the officials to work in close coordination for an effective social security system.
Central Provident Fund Commissioner Neelam Shami Rao and senior officials of the Ministry of Labor and Employment and EPFO were also present in the meeting.
The issue was discussed in a meeting chaired by Sumita Dawra, Secretary, Ministry of Labor and Employment, on Thursday to take stock of the reforms being done in EPFO. He highlighted the need for expansion of social security and new initiatives for ease of living and ease of doing business. Operational reforms in litigation management and audit were also discussed during the meeting.
Sumita Dawra appreciated the recent steps taken by EPFO to automate claim settlement and reduce rejection of claims.These include automatic settlement of advances up to Rs 1 lakh for illness, education, marriage and housing, resulting in faster settlement of claims. Around 25 lakh advance claims have been settled on auto mode. More than 50 per cent of sickness claims settled so far have been settled on auto mode. According to the Labor Ministry, this has increased the speed of settlement of claims and a large number of claims are now being settled within three days.
Bank account upload chequebook/passbook for KYC Aadhaar linked accounts of members has been dispensed with, thus eliminating the need for verification in approximately 13 lakh claims in the last one month.EPFO has also reduced and rationalized the comments for return of incomplete cases and rejection of ineligible cases for easy understanding of the members.
According to data compiled by EPFO, the number of auto transfers generated has also increased three-fold, from two lakh in April 2024 to six lakh in May 2024.
The Secretary advised EPFO to continue proactive steps for systemic reforms. He urged the officials to work in close coordination for an effective social security system.
Central Provident Fund Commissioner Neelam Shami Rao and senior officials of the Ministry of Labor and Employment and EPFO were also present in the meeting.
