PF account withdrawal claim: It usually takes 20 days for the PF claim to be settled or the PF amount to be released. Out of the total 73.87 lakh claims that came for final PF settlement in the financial year 2022-23, 33.8 percent (24.93 lakh) were rejected.
Have you also filed a claim for partial withdrawal from PF account? The money has not arrived yet and are you checking the status again and again? Employees Provident Fund Organization i.e. EPFO itself has told how many days it usually takes to settle PF claim. Many EPFO members complain that their PF claim is taking a lot of time to settle. One such member had posted a post on X. In response to this post, EPFO told how many days it usually takes to settle PF claim.
It takes 20 days to settle the claim
EPFO wrote, ‘Dear member, it usually takes 20 days for PF claim to be settled or PF amount to be released.’ EPFO is the largest social security organization in the world. There are 27.70 crore accounts on it. Also there is a corpus of about Rs 20 lakh crore.
One out of three claims got rejected
Out of the total 73.87 lakh claims that came for final PF settlement in the financial year 2022-23, 33.8 percent (24.93 lakh) were rejected. In this way one out of three claims was rejected. During the same period, 46.66 lakh claims were settled and 2.18 lakh were left as closing balance. This information has been received from official figures. This was much higher than the rejection rate of 2017-18 and 2018-19. At that time it was 13 percent and 18.2 percent respectively. After this, the rejection rate jumped to 24.1 percent in 2019-20. After this this rate increased to 30.8 percent in 2020-21. Then in 2021-22, the rejection rate for final settlement reached 35.2 percent.
Also Read-
-
EPFO: How to file online complaint to EPFO, know here
-
EPFO released new update: EPFO has made changes to the document list for joint declaration
-
Realme Narzo 70 Pro 5G launched, know price and features
