EPFO introduces auto claim settlement for education, marriage, housing | Economy & Policy News

The EPFO has expanded the scope of auto claim settlement facility under para 68K and 68B of EPF Scheme, 1952 to housing, marriage and education purposes, the labour ministry said in a statement on Monday. 

In addition, the limit for auto claim settlement has also been doubled to Rs1,00,000 from the current limit of Rs50,000.  Auto mode of claim settlement was introduced in April, 2020 for the purpose of advance for illness.

During the financial year 2023-24, EPFO settled around 45 million claims, of which more than 60 per cent (28.4 million) claims were advance claims.