EPFO Tips: EPFO will give 5 lakh rupees in 3 days, work will be done without paper…

There is good news for people working in the private sector. The Employees' Provident Fund Organization (EPFO) has made a big decision. Now EPFO members will get Rs 5 lakh in 3 days without paper. The limit of auto-settlement of advance claims has increased. This limit has increased from Rs 1 lakh to Rs 5 lakh. This step will make it easier for EPFO's 7.5 crore members to settle.

What is the limit now?
The Employees' Provident Fund Organization (EPFO) is making a big plan to provide relief to its crores of members. Currently, the limit of auto claim settlement is ₹ 1 lakh, which was increased from ₹ 50,000 in May 2024. But now there is a preparation to increase this limit directly five times to ₹ 5 lakh. Its direct benefit will be given to those members who feel the need for fast funds in cases like medical emergencies, home repair, marriage, or higher education.

Facility doubled with auto claim settlement.
In the financial year 2023-24, about 90 lakh people took advantage of auto claim settlement, which can increase to 2 crores in 2024-25. This data shows how much people have benefited from the digital process. Earlier, for withdrawals above Rs 1 lakh, it was necessary to go to the EPFO office and get physical verification done, which will no longer be necessary with the increase in this limit. That is, now in just 3 days you will get Rs 5 lakh for your work without any documents.

Withdrawal from ATM and UPI
EPFO, in collaboration with the National Payments Corporation of India (NPCI), is preparing such a technical framework, so that from June 2025, the PF amount can also be withdrawn through ATM and UPI. This will be exactly like money withdrawn from a bank account through ATM. This proposal may get final approval in the next meeting of CBT (Central Board of Trustees).

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