EPFO Update: In a point of big relief for the subscribers of Employees Provident Fund Organization the central government led by Prime Minister Modi announced two key reforms in the Employees’ Provident Fund Organisation’s (EPFO) claim settlement process. After the measures set in the claim settlement process for the subscribers would be fastened and the grievances related to claim rejections will be reduced. Here are all the details you need to know regarding the recent EPFO update. In the recent decision the Employees Provident Fund Organization (EPFO) has made a change in the claim settlement process of PF account. Under the recent change employees will no longer need to upload the image of a cancelled cheque or bank passbook to verify their name while they request for withdrawing money from their account. EPFO relaxes rules for employees For a background The central government had earlier announced that the requirement was initially relaxed on a pilot basis for certain KYC-updated members and has already benefited 1.7 crore EPFO members since its launch on May 28 2024 and after the pilot was conducted by the government successfully the EPFO has now extended this relaxation to all members said the Ministry of Labour and Employment as per a report by news agency IANS. Seeding with Universal Account Number It has been reported that the reason behind this move is the fact that as the bank account holder’s name is already verified with the EPFO member’s details during the process of bank account seeding with the Universal Account Number (UAN) the additional documentation is no longer necessary and has thus been removed by the organisation. Under the leadership of PM Narendra Modi the EPFO continues its reform journey. Two major reforms have been introduced to make the claim settlement process simpler faster and hassle-free for crores of EPF members and employers Union Minister of Labour and Employment Dr Mansukh Mandaviya said. Also in order to streamline the process of seeding bank accounts with Universal Account Number (UAN) the EPFO has also removed the requirement of employer approval after bank verification which will be a major relief for hundreds of employees. For those unversed in the current scenario every member is first required to seed his/her Bank Account with UAN in order to get their PF withdrawals seamlessly credited to their respective account. (With inputs from agencies)