EPFO settles over 5 crore claims in a year for the first time
Labour Minister Mansukh Mandaviya announced on 6 February 2025 that EPFO had settled over 5.08 crore claims worth ₹2,05,932 crore in FY 2024-25, crossing 5 crore for the first time.
Summary
The Employees' Provident Fund Organisation (EPFO) crossed the mark of 5 crore claim settlements in a financial year for the first time, Union Labour and Employment Minister Mansukh Mandaviya announced on 6 February 2025. In FY 2024-25 so far, EPFO processed over 5.08 crore claims worth ₹2,05,932.49 crore, against 4.45 crore claims worth ₹1,82,838.28 crore in FY 2023-24. Auto-settled claims, processed within three days, doubled to 1.87 crore from 89.52 lakh in FY 2023-24. Only 8% of transfer claims now need member and employer attestation.
Key facts
- Announced
- 6 February 2025, Mansukh Mandaviya
- FY 2024-25
- Over 5.08 crore claims, ₹2,05,932.49 crore
- FY 2023-24
- 4.45 crore claims, ₹1,82,838.28 crore
- Auto-settlement
- 1.87 crore claims (89.52 lakh in FY 2023-24); within 3 days
- Transfers
- Only 8% need member and employer attestation
Practice MCQs 2 questions
EPFO crossed which milestone of claim settlements in FY 2024-25, as announced on 6 February 2025?
Show answer
Correct answer: A — 5.08 crore claims
EPFO processed over 5.08 crore claims in FY 2024-25, crossing 5 crore for the first time; it had settled 4.45 crore claims in FY 2023-24.
How many claims did EPFO settle through auto-settlement in FY 2024-25, as per the February 2025 announcement?
Show answer
Correct answer: B — 1.87 crore
Auto claim settlements doubled to 1.87 crore in FY 2024-25 from 89.52 lakh in FY 2023-24.