New Delhi [India], March 25 (ANI): The Employees’ Provident Fund Organisation (EPFO) is set to introduce UPI integration for claims processing, a move aimed at enhancing efficiency and reducing transaction time, Labour and Employment Secretary Sumita Dawra said on Monday.
Speaking on the initiative exclusively with ANI, Dawra said EPFO currently has around 7.5 crore active members who maintain their PF accounts and contribute towards their pension. “We have undertaken significant work in this regard. Claims up to Rs1 lakh have been automated, self-correction mechanisms have been introduced, and unnecessary processes have been eliminated. Additionally, we have integrated databases, reducing the claim processing time to just three days,” she said.
Dawra further highlighted that, for the first time, EPFO has established a centralized database. “Our next step is to incorporate UPI into the system. We have received suggestions from the National Payments Corporation of India (NPCI) regarding this integration and have submitted a proposal to EPFO for consideration. After conducting the necessary testing, we expect to roll out the UPI frontend for EPFO claims by the end of May. This will benefit all members, as they will be able to view their EPFO accounts directly in the UPI interface and make auto-claims. The approval process will be instant If the consumer is eligible, ensuring quick credit to their accounts,” she stated.
She added that stabilizing the centralized database will take around two to three weeks, following which the frontend for UPI integration will be made ready.
On pension reforms, Dawra said, “There are 78 lakh pensioners in EPFO, and earlier, only a few banks were notified for pension disbursement. Last year, we sought advice from the Reserve Bank of India (RBI), and now we have implemented a centralized pension system. Pensioners are benefiting from this as they can now receive their pension from any bank.”
Highlighting the government’s Employment Linked Incentive (ELI) scheme, Dawra said, “The incentive announced in the Budget has been increased from Rs10,000 crore to Rs20,000 crore this time. This historic outlay will benefit everyone–first-time employees, existing workers, etc. The government has also ensured that platform workers receive health coverage, with all their charges covered under the online PMJAY scheme.” (ANI)
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