Wednesday, October 1, 2025
spot_img

EPFO Targets March 31 for EPS- 95 Higher Pension Processing, Over 70% Done

spot_img
- Advertisement -

The Employees’ Provident Fund Organisation (EPFO) is set to complete the processing of all applications under Pension on Higher Wages (PoHW) by March 31, 2025.

This was confirmed during the 112th meeting of the Executive Committee (EC) of the Central Board of Trustees, EPF as a press release on Feb 26.

The meeting was chaired by Ms. Sumita Dawra, Secretary (Ministry of Labour and Employment), at the EPFO Head Office in New Delhi, with Shri Ramesh Krishnamurthi, CPFC, and other senior officials in attendance.

Key Highlights from the 112th EC Meeting

Adoption of Unified Pension Scheme (UPS) for EPFO Officers and Staff

  • The EC adopted the Unified Pension Scheme, aligning with the Ministry of Finance’s gazette notification.
  • Officers and staff will have the option to transition from the National Pension System (NPS) to UPS.

Effective from April 1, 2025, the scheme ensures financial security for EPFO employees with a minimum guaranteed pension, family pension benefits, and dearness relief adjustments.

Progress on Centralized Pension Payment System (CPPS)

  • The CPPS, launched in January 2025 through NPCI (NACH) payments, has achieved a 99.9% success rate.
  • 69.4 lakh pensioners have benefited, allowing seamless pension access from any bank branch across India.

The EC emphasized the need to transition to an Aadhaar-Based Payment System (ABPS) for enhanced security and efficiency, ensuring direct credit of pension payments into Aadhaar-linked bank accounts.

Digital Transformation: CITES 2.01 & EPFO 3.0

  • EPFO is migrating to a centralized IT system (CITES 2.01) to improve claims processing and service delivery.
  • The modernization is expected to be completed by March 31, 2025, replacing outdated software.

EPFO 3.0 aims to create a future-ready, technology-driven, member-centric organization with expanded social security coverage. The EC instructed EPFO to prepare a Vision Document for EPFO 3.0 by March 31, 2025.

Pension on Higher Wages (PoHW) Processing Update

  • EPFO reported that 70% of applications under PoHW have already been processed.
  • Special attention is being given to members who have deposited the required amount, including those from large PSUs.

The EC directed EPFO to expedite pending cases to meet the March 31, 2025, deadline and ensure the timely processing of all applications in compliance with the Supreme Court judgment.

Simplification of Claim Processing & Partial Withdrawals

  • EPFO achieved a historic high of 2.16 crore auto-claims settlement as on 06.03.2025 
  • Over 99.31% claims are now received in online mode, without any requirement to visit the field office. In FY 2024-25 as on 06.03.2025, 7.14 Crore claims have been filed in online mode.

To enhance efficiency, EPFO has increased the auto-mode processing limit for advance claims to ₹1 lakh and expanded its scope to include housing, education, and marriage.

Now, 60% of advance claims are processed in auto mode within three days, with a record 2.16 crore claims settled as of March 6, 2025.

Additionally, Aadhaar-verified UAN holders can now correct member details independently, and over 99.31% of claims are submitted online.


Note: We are also on WhatsApp, LinkedIn, Google News, and YouTube, to get the latest news updates, Subscribe to our Channels. WhatsApp– Click HereGoogle News– Click HereYouTube – Click Here, and LinkedIn– Click Here.



spot_img

Editorial

Why TCS Deferred FY25 Salary Hike: Better Hike Ahead?

TCS had initially announced its annual salary hike during...

Deloitte, PWC, EY, KPMG to Hire 1 Lakh People in India in FY25

According to estimates from top company officials and industry...

Higher EPS Pension Application Stuck: A Step-by-Step Guide to Fix

Nearly 97,640 Provident Fund (PF) members and pensioners under...

Employee Benefits at India’s Big 4 Firms Deloitte, PwC , EY, KPMG

The Big 4 firms; Deloitte, PwC (PricewaterhouseCoopers), EY (Ernst...

TCS Announces 4-8% Salary Hike for FY25, Lowest in Last 4 Years

Tata Consultancy Services (TCS), India's largest IT services provider,...

Must Read

Flipkart and MSDE Collaborate to Upskill India’s Youth

In a significant move towards skill development and youth...

KFin Technologies appoints Kiran Aidhi as Chief People Officer

KFin Technologies appoints Kiran Aidhi as Chief People Officer. Prior...

Accenture India Hiring 2021-2024, Any Graduates & Post-Graduates Eligible to Apply

Accenture in India, a global leader in professional services,...

Cognizant Off Campus Drive 2024, Apply Here

Cognizant India is inviting applications for the position of...

Providing Meaningful Performance Feedback

When Raj resigned from the position of Area Sales...

CMS Info Systems appoints ITC, GE veteran Sanjay Singh as new CHRO

CMS Info Systems appoints Sanjay Singh as Chief Human...

Accenture: Companies lead in disability inclusion outperform financially

Companies that lead in disability inclusion drive more revenue,...

Related Articles

SightsIn Plus
SightsIn Plushttps://sightsinplus.com/
SightsIn Plus is an India’s leading high-quality people-focused monthly HR Magazine and provides up-to-date HR News, Leadership Announcements, Best HR Practices and Insights by Global CHROs, CEOs, HR Advisors, Business Managers and HR Heads on topics of interest to HR professionals. To subscribe SightsIn Plus, HR Magazine please visit- https://sightsinplus.com/subscribe/