The Employees’ Provident Fund Organisation (EPFO) is planning to expand its auto-settlement facility to include final provident fund withdrawal claims, aiming to speed up fund transfers directly to subscribers’ bank accounts. 

The move was confirmed by Central Provident Fund Commissioner Ramesh Krishnamurthi in an interview with PTI.

At present, the EPFO’s auto-settlement system is limited to partial or advance withdrawal claims of up to Rs 5 lakh. Under the current mechanism, eligible claims are processed within three days from the date of filing. The retirement fund body has more than seven crore members across the country.

Auto-Settlement, Account Transfer Process To Be Expanded

Krishnamurthi said the EPFO now intends to extend the auto-settlement feature to final withdrawals as well. “We are also going to initiate, as far as feasible, auto-settlement for now…which was (available) only for advances. Now we are going in for auto-settlement of final withdrawals,” he said.

The EPFO is also working on enabling automatic transfer of provident fund accounts when members switch jobs. According to Krishnamurthi, subscribers will no longer be required to submit forms for account transfers. “You don’t have to file a form anymore. We try to auto-migrate your accounts to your latest member account,” he stated.

As of February 25, 2026, the EPFO had processed over 3.52 crore claims through the auto-settlement system for amounts up to Rs 5 lakh. The organisation had raised the threshold from Rs 1 lakh to Rs 5 lakh in June last year to reduce manual intervention and speed up claim processing.

New Labour Code Rules In Pipeline

The EPFO is also preparing to notify rules under the four new labour codes notified by the Centre on May 8. Krishnamurthi said the next set of EPFO-specific notifications would be issued shortly.

He further said the EPFO would renotify three schemes under the revised framework, the EPF Scheme 1952, Employees’ Deposit Linked Insurance Scheme 1976, and Employees’ Pension Scheme 1995, while incorporating recent reform measures and simplification initiatives.