EPFO Announces Major Reform | Automatic Settlement for Final PF Claims Coming Soon

The Government of India has announced a major reform for over 70 million EPFO subscribers, introducing an automatic settlement system for final Provident Fund (PF) claims.

Currently, advance PF claims up to ₹5 lakh are processed automatically within three days. Under the new system, final settlement after job resignation will also be processed in a similar fast-track manner, eliminating the need for employees to visit offices.

Additionally, PF account transfers between employers will become fully automatic without manual forms. These changes are part of the new Labour Codes introduced to improve ease of living for workers and simplify administrative processes.

The reforms aim to enhance efficiency, reduce delays, and ensure direct transfer of funds into employees’ bank accounts.

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