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EPFO settles 10 lakh PF claims in November

Press Trust of India  |  New Delhi 

Retirement fund body EPFO has settled 10 lakh claims, including withdrawal and transfer of provident fund, in the month of November.

According to a recent review of the performance of the Employees' Organisation (EPFO) by its Central Commissioner K K Jalan, the body settled 10 lakh claims in November.

"With this (10 lakh settlements in November), total number of claims settled by the EPFO has touched 85 lakhs. This includes claims relating to final settlement of PF, advances / withdrawal from the funds, transfer applications, pension claims and claims," Jalan noted during the review.

In the current financial year, 97.52 per cent of the claims settled have been done so within the mandated period of 30 days. Almost 70 per cent of claims has been settled within 10 days of receipt.

"Continuing to accord primacy to customer satisfaction, 1,20,71 grievances have been settled by EPFO in the current fiscal. Out of the above, 15,462 of grievance have been disposed in the month of November," he added.

The review revealed that EPFO got e-India award from Elets Technomedia Pvt Ltd in association with Government of Kerala on launching Universal Account Number.

EPFO has subscribers' base of over five crore. It manages a corpus of over Rs 6 lakh crore with an incremental deposits of over 70,000 crore per annum.

First Published: Thu, December 04 2014. 17:16 IST