EPFO settles 10.53 lakh PF claims in May

Retirement fund body EPFO settled 10.53 lakh claims like PF withdrawals in May, of which 86 per cent were disposed of within 10 days of receipt of application.
Cumulatively in the current fiscal beginning April, the Organisation has settled more than 23 lakh claims, an Employees' Provident Fund Organisation (EPFO) statement said.
"10.53 lakh claims were settled in the month of May ... 43 per cent of the settlement happened within 3 days and 86 per cent within 10 days," Central Provident Fund Commissioner K K Jalan said.
Grievance redressal was continued to be given the top most priority and 14,796 grievances were redressed in May.

It has been reiterated to the field offices that pendency of grievances should not go beyond 15 days, the statement said.
To fully realise the potential of Universal Account Number (UAN) in providing multifarious services to the EPF members, a proposal has been sent to the Government for making UAN compulsory in EPF transactions, it said.
"This is expected to increase the UAN penetration with regard to EPF members and making many internet based services accessible to the PF members," it added.