Stipulated period of settlement reduced from 30 to 20 days for EPFO
Q. The government has reduced the stipulated period for settlement of various claims like PF withdrawal, pension and insurance by the retirement fund body EPFO to 20 days from the existing______.- Published on 24 Jul 15a. 25 days
b. 30 days
c. 60 days
d. 90 days
ANSWER: 30 days
According to an order, the Labour Ministry had notified the changes to the three schemes for the purpose on 2nd July’15. EPFO had settled 1.29 crore claims in 2014-15, of which more than 90 per cent were disposed off within 20 days.
The cumulative figure regarding claim settlement for the current fiscal i.e; from April to June stood at 33.35 lakh claims, out of which 43% were settled within 3 days.
