Provident Fund boost for 7.5 crore Indians! Govt to raise auto settlement of PF withdrawal limit to ₹5 lakh

The EPFO has decided to enhance the auto settlement of advanced claim (ASAC) limit from Rs 1 lakh to Rs 5 lakh, aiming to improve the ease of living for its 7.5 crore members. This enhancement, along with the introduction of UPI for PF withdrawals, will streamline the process and significantly reduce settlement time.