EPFO decreased claim settlement time to 10 days. Moreover, this is latest news of EPFO. Here, EPFO is Employees’ Provident Fund. It is also retirement fund manager. However, actual time was 20 days to settle EPFO claims online or offline. To know more on claim settlement period of EPFO claims. You can keep reading.
Reduction of provident fund claims settle time
According to latest news on provident fund. EPFO reduced time line. Additionally, this time line is for setting claims. Therefore, it is now easy to settle claims. This improves service delivery. And this helps more than four crore EPFO subscribers.
Launch of online claim facility of EPFO
It was on 1st May 2017. That EPFO launched online claim settlement process. In addition, Mr. Bandaru Dattatreya, Labour Minister launched it. Hence, in less time you can settle claims. But for this you must follow rules.
First your EPF accounts must seed with Aadhar card. Further you must link bank account with EPF accounts. Second after you link these documents. Then you can easily have claims settled. While it takes minimum three hours. Here, time recorded is when you get claim application receipt.
Other durations
On other hand, there is some change in time line for claims. It means that it takes 10 to 15 days for PF claim settlement. But this is only for grievance redressal management. This is what EPFO statement says. Apart from this, Labour Minister launched other things.
First Mr. Dattatreya launched EPFO Citizens’ Charter 2017. Second, this Charter will bring transparency. Additionally, things will be clear for everyone. Because you will have idea of EPFO accountability. Thus, you can think of easy management in settling claims. But before doing this. You must know how to check EPF balance statement online offline.
EPFO e-court Management System launched
Apart from above stated things. Employees’ Provident Fund Organisation launched another e-court of EPFO. Additionally this court will help people a lot. As with EPFO e-court claims will go online. Therefore, you will be clear about things. Besides e-court is similar to Digital India of Mr. Narendra Modi, the Prime Minister of India.
Objectives of e-court of EPFO
There are many objectives of e-court of EPFO. However, most important objective is here. First it helps all stakeholders. And this list includes employees, CBT, employers and litigants. Second it is a paperless court system.
Hence court procedure of EPF and MP Act 1952 will be in digital environment. Besides EPFAT (tribunal) will also be in digital mode. Authorities are also taking different steps. Thus it will be easy for everyone.
Steps for online settlement e-court
Litigants will receive automated messages. But they must register their phone number. So that they know status of their case. On other hand, stakeholders can track cases. As they can track cases online only.
File papers online
In addition, filling of papers online is possible. You can also file documents or evidence online. Thus, you will know status of your case. However, you should carefully check that you update documents. This also includes papers and proof. Because only then you will get reports.
Further these reports will have digital database. Finally you can use online mode of provident fund settlement. And that is why is new rule of deadline in settling claims. You can start using EPFO claim settlement period in 10 days from now. You can also go to EPF UAN portal for latest news on EPF.