“EPFO has introduced an auto claim solution in which the claim is processed automatically by the IT system without any human intervention. To facilitate “Ease of Living”, the auto claim solution has now been extended to all claims under Para 68K (education and marriage purposes) and 68B (housing purposes) of the EP Scheme, 1952. Moreover, the limit has been doubled from before. Rs 50,000/- to Rs 1,00,000/- This step is expected to benefit lakhs of EPFO members.
Auto mode of claim settlement for the purpose of advance payment for sickness was first introduced in April, 2020. Now this limit has been increased to Rs 1,00,000/-. During the current year, about 2.25 crore members are expected to benefit from this facility.
During the financial year 2023-24, EPFO settled about 4.45 crore claims, of which more than 60 per cent (2.84 crore) of the claims were advance claims. Out of the total advance claims settled during the year, about 89.52 lakh claims were settled using auto-mode.
Any claim with KYC, eligibility and bank verification is automatically processed for payment through the IT tool. As a result, the periodicity of claim settlers for such advances has reduced from 10 days to within 3-4 days. Claims that are not validated by the system are not returned or rejected. It has been said in the statement that these works are done for the second level of investigation and approval.
The statement said that the expansion of the scope of auto claims in India was started on May 6, 2024 and since then EPFO has approved 13,011 cases worth a total of Rs 45.95 crore under this initiative to provide speedy service.
Auto mode of claim settlement for the purpose of advance payment for sickness was first introduced in April, 2020. Now this limit has been increased to Rs 1,00,000/-. During the current year, about 2.25 crore members are expected to benefit from this facility.
During the financial year 2023-24, EPFO settled about 4.45 crore claims, of which more than 60 per cent (2.84 crore) of the claims were advance claims. Out of the total advance claims settled during the year, about 89.52 lakh claims were settled using auto-mode.
Any claim with KYC, eligibility and bank verification is automatically processed for payment through the IT tool. As a result, the periodicity of claim settlers for such advances has reduced from 10 days to within 3-4 days. Claims that are not validated by the system are not returned or rejected. It has been said in the statement that these works are done for the second level of investigation and approval.
The statement said that the expansion of the scope of auto claims in India was started on May 6, 2024 and since then EPFO has approved 13,011 cases worth a total of Rs 45.95 crore under this initiative to provide speedy service.
