Changes to EPF Account Rules and Claims Process in May 2024

In May 2024, EPFO (Employees’ Provident Fund Organization) made some changes in EPF accounts rules and the claim process. Which includes, the relaxation in regulation to make employees life contended.

EPFO includes changes on an extended verge which relates to Multi-Location Claim Settlement, Facility of Auto Settlement and Faster Death Claims.

EPFO four major changes towards the EPF Accounts and Claim Process

1. Facility of auto-settlement
   • Auto- Settlement Facility (May 13,2024)
     • Under the rule 68B it introduces the auto settlement facility for Housing.
     • Under the Rule 68K it brings settlement changes in Education and Marriage claims.
     • All claims up to 1 lakh related to these heads will automatically be processed without any human in interference.
   • Increase in Advance Amount (April 16, 2024)
     • Under the rule of 68J of the 1952 EPF scheme a person can increase advance to cure illness.
   • Withdrawal of EPF Funds
     • Under the rule 68K it permits that EPF funds can be withdrawal for marriages or higher education of children.
2. Faster EPF Claim Settlement
   • Introducing Multi Location Claim Settlement
     • To accelerate claim settlement within the specified period of time EPFO
     • Announces set up of link offices at multiple location.
     • This provision was first launched in 2020.
   • Purposes fulfill by this
     • It helps in minimizing delays of claim settlement.
     • It helps in speeding of establishment of EPFO nationwide.
     • Replaces current structure with more efficient system.
   • Obligations follow under this (May 8, 2024)
     • A link arrangement is created between the DRO (Delegating Regional Office) and collaborating Regional Office (CRO) under the RFPC.
     • RFPC is the charge of both the parties to ensure the work coordination among them.
3. New Rule for EPF Death Claim (MAY 17, 2024)
   • Temporary Measures for Death Cases
     • Under this EPFO permits processing of claim without the need of AADHAR but with proper consent of OIC (Officer in Charge) in context of death cases.
     • Verification of death claimant must be recorded.
   • Reason Inspire this
     • In earlier times families faced so many challenges now it will become easier for them.
     • With the inclusion OIC, it prevents fraudulent activities.
4. Mandatory Uploading of Cheque Leaf Image
   • Providing Relaxation for Uploading Documents
     • In the case of online claims, EPF provides relaxation on uploading cheque leaves and attested passbooks.
     • It includes validation through online verification of bank KYC, DSC, and UIDAI with verified Aadhar number.

Conclusion

This provides information of new amendments regarding EPF which came to process in May 2024. Also, it provides information regarding new rules, regulation and relaxation.