EPFO mandates 3-day PF claim settlement, imposes penalties for delays
The Employees' Provident Fund Organisation (EPFO) has launched a new policy requiring eligible PF withdrawal requests to be processed within a three-day timeframe. As part of these regulations, staff members who cause unreasonable delays may be subject to a 12% annual penalty interest, which will be credited to the subscriber's payment for the duration of the hold-up. This initiative is designed to ensure workers can access their retirement funds more quickly when they are between jobs.
by shortkt.com✓