EPFO has now introduced auto-mode settlement of advance claims for the purpose of education & marriage and housing. EPFO has introduced an Auto Claim Solution where in claim is processed automatically by IT system without any human intervention.
To facilitate “Ease of living”, the auto claim solution has now been extended for all claims under para 68K (education & marriage purpose) and 68B (housing purpose) of EPF Scheme, 1952. In addition, the limit has been doubled from earlier Rs. 50,000/- to Rs.1,00,000/-. This move is expected to benefit lakhs of EPFO members.
The entire process in auto-settlement is IT system driven, eliminating human intervention. Any claim with KYC, eligibility and bank validation is processed for payment by IT tools automatically. As a result of this, the periodicity of claim settlement is reduced significantly from 10 days to within 3-4 days for such advances. The claim that are not validated by system are not returned or rejected. They are further, undertaken for second level of scrutiny and approvals.
