EPFO rolls out reforms: 8.25% interest, higher auto-settlement, unified portal, and new schemes for faster, easier access.
1/7The Employees’ Provident Fund Organisation (EPFO) is rolling out a series of reforms aimed at making its services faster, more digital and easier to access. Along with crediting 8.25% interest for FY2025-26, the retirement fund body has announced measures ranging from higher auto-settlement limits to a unified digital portal. Here’s a look at the key changes EPF subscribers should know.
2/78.25% EPF interest for FY2025-26 | The government has approved an 8.25% interest rate on EPF deposits for FY2025-26. Following the approval, EPFO has started the process of crediting the interest to members’ accounts, with the Labour Ministry saying the amount is expected to be credited by July 15. (Image: Canva)
3/7Faster claim settlement with higher auto-settlement limit | EPFO has increased the auto-settlement limit from ₹1 lakh to ₹5 lakh. This means more eligible claims can be processed automatically without manual intervention, helping reduce processing time for subscribers. (Image source: AI generated)
4/7Small inactive PF accounts to be settled automatically | EPFO will begin a pilot project to automatically settle inoperative accounts with unclaimed balances of ₹1,000 or less. Around 1.33 lakh accounts holding nearly ₹5.68 crore will be covered initially. The money will be credited directly to Aadhaar-seeded, EPFO-linked bank accounts without requiring members to submit fresh claims. The facility may later be extended to accounts with higher balances.
5/7Unified digital portal for EPFO services | From next week, members will be able to check their PF balance and claim status through a unified digital portal. The service is backed by EPFO’s centralised database, which is expected to automate several member services and improve turnaround times.
6/7New EPF, EPS and EDLI schemes | The Central Board of Trustees has approved new versions of the EPF Scheme, EPS and EDLI Scheme to align them with the Code on Social Security, 2020. Once notified, the new schemes will replace the existing framework while continuing to provide provident fund, pension and insurance benefits.
7/7Simpler rules for exempted establishments | EPFO has approved a simplified framework for granting and managing exemptions to eligible establishments. It has also cleared a one-time amnesty scheme for certain exempted establishments to resolve pending compliance issues while safeguarding employees’ benefits.
