EPFO enhances auto-settlement limit for advance claims to ₹5 Lakhs

Union Labour Minister Mansukh Mandaviya on Tuesday announced raising the limit from Rs 1 lakh to Rs 5 lakh for auto-settlement of claims for advance withdrawal from employees' provident fund accounts. The move will enable members of retirement fund body EPFO to get their advance withdrawal claims of up to Rs 5 lakh settled within three days. At present, the limit through auto-settlement mode having three-day deadline is Rs 1 lakh.

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