{"id":840162,"date":"2026-08-01T10:17:08","date_gmt":"2026-08-01T10:17:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/840162\/"},"modified":"2026-08-01T10:17:08","modified_gmt":"2026-08-01T10:17:08","slug":"epfo-fast-tracks-pf-withdrawals-aims-to-settle-claims-within-24-48-hours-check-details-here","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/840162\/","title":{"rendered":"EPFO fast-tracks PF withdrawals, aims to settle claims within 24\u201348 hours \u2014 check details here"},"content":{"rendered":"

The Employees’ Provident Fund Organisation (EPFO) expects most fresh PF withdrawal claims filed by members to be settled on the same day or within a maximum of two days, giving major relief to salaried individuals.<\/p>\n

This announcement was made by Ramesh Krishnamurthy, Central Provident Fund Commissioner (CPFC), EPFO<\/a>, on Friday, while he was addressing the Global Industrial Relations Summit held in New Delhi. He also noted that the retirement fund body has almost cleared its claim settlement backlog.<\/p>\n

“We have almost cleared all our backlog of claim settlements. In the new system, we are seeing auto-settle claims as high as 90 per cent. We hope that most of the claims filed by members will be settled either on the same day or within a maximum of two days,” Ramesh Krishnamurthy, Central Provident Fund Commissioner (CPFC), EPFO, said on Friday.<\/p>\n

The faster turnaround is expected to help subscribers access their EPF savings<\/a> more quickly. Until now, online claims filed with the EPFO were usually settled within seven to 10 working days upon completion of KYC.<\/p>\n

Claim settlement via UPI to be introduced in a month<\/p>\n

Krishnamurthy also announced that EPFO will introduce provident fund claim settlement through the BHIM app, enabling claims to be credited directly to the UPI-linked bank accounts of members.<\/p>\n

The framework is expected to be rolled out within about a month.<\/p>\n

“As our Minister has said, the claim settlement process we will be introducing through the BHIM app and the claim will be settled through the UPI-linked bank account. So this framework will also get implemented in maybe a maximum a month,” he was quoted as saying by news agency ANI.<\/p>\n

Will the EPF interest rate be increased from 8.25%?<\/p>\n

When asked whether the Employees\u2019 Provident Fund (EPF) interest rate<\/a> could be raised above the current 8.25%, Krishnamurthy said it was too early to comment on any potential increase.<\/p>\n

“It is too premature to say. At this moment we have already credited and this is something which is a very significant achievement for EPFO. In a single shot, over 34 crore member accounts were credited as on July 3 and we transferred nearly \u20b91.44 lakh crore as interest at the rate of 8.25 per cent. I think that is a huge thing,” he said during the event.<\/p>\n

Krishnamurthy said EPFO’s new employment schemes and ongoing reforms are focused on providing enhanced member services while simplifying compliance for employers. The organisation will now focus on compliance-related reforms to make interactions easier for employers and to strengthen trust in EPFO as a reliable social security institution for both employers and employees.<\/p>\n

(With inputs from ANI)<\/p>\n","protected":false},"excerpt":{"rendered":"The Employees’ Provident Fund Organisation (EPFO) expects most fresh PF withdrawal claims filed by members to be settled…\n","protected":false},"author":2,"featured_media":840163,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[45,49,48,189513,224674,104519,292601,292602,292605,133,131,132,292603,292606,292604],"class_list":["post-840162","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-ca","tag-canada","tag-epf-claims","tag-epf-interest-rate","tag-epf-withdrawal","tag-epf-withdrawal-claims","tag-epfo-settlement-backlog","tag-faster-withdrawal","tag-finance","tag-personal-finance","tag-personalfinance","tag-provident-fund-claim-settlement","tag-same-day-settlement","tag-upi-linked-bank-accounts"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/840162","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=840162"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/840162\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/840163"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=840162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=840162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=840162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}