The Employees’ Provident Fund Organisation (EPFO) on February 28 said that all services utilising Aadhar authentication will remain impacted due to technical maintenance of the platform’s Aadhar setup.
EPFO rejects every third claim it receives
According to reports on February 20 it was revealed that the EPFO has rejected every third claim that it received. Several subscribers raised their grievances relating to the delay in claim settlement on the official X handle of EPFO.
India’s provident fund body is the world’s largest social security organisation with over 277 million accounts and a corpus of nearly ₹20 lakh crore.
In response to one such query, the EPFO stated that it normally takes 20 days to settle a claim or release the PF amount if the same submitted to the concerned EPFO office is complete.
Out of the total 73.87 lakh claims received for final PF settlement in financial year 2022-23, 33.8 per cent (24.93 lakh) were rejected. At the same time, 46.66 lakh were settled and 2.18 lakh remained as closing balance, according to official data.
This was considerably higher than the rate of rejection in 2017-18 and 2018-19, when it stood at nearly 13 per cent and 18.2 per cent, respectively.
Read more at: livemint
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