Current Affairs · Government Welfare Schemes and Decisions
Consider the following statements regarding the Employees' Provident Fund Organisation's (EPFO) policy updates implemented in mid-2024: 1. EPFO increased the auto-settlement limit for advance claims from ₹1 lakh to ₹5 lakh, enabling faster disbursal without manual intervention. 2. The auto-settlement mode successfully processed over 2.3 crore advance claims in the fiscal year 2023–24, showing a massive increase over previous periods. 3. The new limit applies exclusively to final retirement settlement claims and strictly excludes advance claims taken for medical expenses. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both 1 and 3
- 2Only 3
- 3Both 2 and 3
- 4Both 1 and 2✓
Correct answer
Both 1 and 2
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