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EPFO: If you are a salaried employee and have PF contributions deducted from your salary every month, there is good news for you. Gone are the days when one had to make repeated visits to the PF office and wait for weeks just to withdraw one's own money. The Employees' Provident Fund Organisation (EPFO) has been continuously transforming its operations. Consequently, withdrawing PF funds has now become even easier than redeeming mutual fund investments. Under the new system, you can file a claim online, and the money will be credited to your bank account within one or two days.

**90% of claims are being auto-settled**
Ramesh Krishnamurthy, a senior EPFO ​​official, has clarified that there is no backlog of pending work in the department. The new system operates so efficiently that approximately 90% of PF claims are being approved automatically (auto-settled). Salaried employees are reaping the benefits of this. If you suddenly need funds for medical treatment, a wedding, or home construction, your claim will be settled on the same day you apply—or within a maximum of 48 hours.

**Money to be transferred directly to UPI-linked accounts via BHIM app**
This facility is set to become even more advanced in the near future. The EPFO ​​will soon begin disbursing claim amounts via the BHIM app. This means your PF money will be transferred directly to the bank account linked to your UPI. Officials expect the new system to be fully operational within the next month, making financial transactions even faster and more transparent.

**Delivery personnel and daily wage laborers to gain social security coverage**
The benefits of PF and social security will no longer be limited to office-based employees. The government is preparing a new scheme that will extend coverage to delivery personnel working for e-commerce companies and daily wage laborers in the unorganized sector. The new bill includes provisions for a special scheme dedicated to these workers. Once the government makes an official announcement regarding this, the future of millions of daily wage and gig workers will also be secured.

What is the current update on interest rates?
When an official was asked whether PF interest rates would rise in the near future, they stated that it would be premature to comment on the matter at this stage. Currently, PF deposits are earning an impressive interest rate of 8.25 percent. The EPFO ​​recently transferred approximately ₹1.44 lakh crore in interest to the accounts of over 34 crore subscribers—a significant achievement in itself. The department is making concerted efforts to simplify paperwork, aiming to further strengthen the trust that both companies and employees place in the EPFO.

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