Mumbai: The Employees Provident Fund Organisation (EPFO) has announced important changes to make claiming your Provident Fund (PF) easier and more rewarding. These changes are aimed at reducing delays and improving member satisfaction.
Interest Now Paid Till the Actual Settlement Date
Earlier, EPFO gave interest only up to the end of the previous month if your claim was settled by the 24th. After that, claims were put on hold to avoid members losing interest.
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Now, with the amendment to Paragraph 60(2)(b) of the EPF Scheme, 1952, interest will be paid till the day your claim is settled—no matter when in the month it happens. This means more money in your account and fewer delays.
Claims Processed All Month Long
Previously, interest-bearing claims were not processed after the 24th of each month, which often led to delays. Under the new system, claims will be processed throughout the month, helping clear backlogs and improve efficiency.
Who Will Benefit?
This rule will apply to claims under:
Para 69 – Full PF withdrawal after retirement (age 55+), disability, moving abroad, or 2+ months of unemployment.
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Para 70 – PF payment to nominees or legal heirs after a member's death.
These claims will now be settled with interest calculated up to the actual settlement date, ensuring higher returns for members and their families.
Why This Matters
✅ More interest = better returns
✅ Faster access to your money
✅ Fewer complaints
✅ Smoother service from EPFO
