What are the new updates for EPFO in 2024?
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In 2024, the Employees’ Provident Fund Organisation (EPFO) implemented several enhancements aimed at simplifying the membership process. The loosened documentation requirements for online claim submissions are one significant improvement. It used to be required to upload a copy of a bank passbook or cheque. Nowadays, you can streamline the claim procedure by using online verification via your bank or Aadhaar in certain situations.
The emphasis on expedited claim settlements is another change. To speed up the claim distribution process, the EPFO has included capabilities including auto-settlement and multi-location claim processing. Members who require their EPF money immediately, particularly following retirement or a job change, may find this useful.