Withdrawing money from your Provident Fund (PF) could soon become much quicker.
The Employees’ Provident Fund Organisation (EPFO) has announced that most PF claims will now be processed on the same day or within two days, reducing the long waiting period that many members faced earlier.
The update was shared by Central Provident Fund Commissioner (CPFC) Ramesh Krishnamurthy, who said the EPFO has cleared almost all pending claims and introduced major reforms to speed up the process.
90% of PF Claims Now Processed Automatically
According to Krishnamurthy, around 90% of PF claims are now being auto-settled under the new system.
This means that once a member submits a valid claim, the system can process it automatically without manual intervention in most cases.
As a result, members can expect their claims to be settled much faster.
He said the goal is to ensure that most claims are completed either on the same day or within a maximum of two days.
PF Withdrawals Through BHIM App Coming Soon
EPFO is also preparing to launch a new facility that will allow members to receive their PF claim amount directly through the BHIM app.
Once the feature goes live, the claim amount will be transferred directly to the member’s UPI-linked bank account, making the withdrawal process even more convenient.
According to the EPFO chief, this new system is expected to be introduced within the next month.
EPFO Focuses on Better Services and Simpler Rules
Speaking at a FICCI event, Krishnamurthy said the EPFO is working to provide faster services to members while also making compliance easier for employers.
The organisation is introducing reforms to simplify procedures, reduce paperwork, and strengthen trust among both employees and employers.
The aim is to make EPFO a more efficient and reliable social security institution for retirement savings.
Social Security for Gig Workers Also Planned
The EPFO chief also spoke about the government’s plans to expand social security coverage to gig and platform workers.
Once the proposed scheme is introduced, workers such as delivery executives, app-based drivers, and other unorganised sector workers could also receive social security benefits.
The government is expected to announce further details, including the agency that will implement the scheme.
Any Change in EPF Interest Rate?
Many EPF subscribers are also wondering whether the interest rate will increase.
Krishnamurthy said it is too early to comment on any revision. At present, the EPF interest rate remains 8.25%.
He added that the EPFO recently credited interest to more than 34 crore member accounts, transferring nearly ₹1.44 lakh crore in interest.
He described this as one of the organisation’s biggest achievements.
With faster claim processing, upcoming UPI-based withdrawals, and ongoing digital reforms, EPFO aims to make PF services quicker and more convenient for millions of subscribers across the country.
