EPFO targets same-day claims, BHIM-UPI payouts within a month
EPFO says it has largely cleared its claims backlog and is targeting same-day or two-day disposal for new claims. The planned BHIM-UPI settlement rollout and simpler employer compliance could ease payroll-administration friction for retailers; gig-worker social-security coverage remains pending a government scheme.
EPFO says it has nearly cleared claim backlogs and targets same-day or two-day disposal for fresh claims. It plans BHIM-based UPI settlement within a month and will simplify employer compliance. A future government scheme will determine social-security coverage for gig and platform workers.
Why this matters
EPFO’s faster claims and BHIM-UPI payout plan follows its exploration of voluntary PF for gig and self-employed workers and EPFO 3.0 proposals to extend pension coverage to 25 million gig and construction workers.
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