New Delhi, July 16 -- The Employees' Provident Fund Organisation (EPFO) has significantly accelerated claim settlements following the rollout of the latest version of its Centralised IT Enabled Services (CITES 2.01), with 83 percent of claims now being processed automatically, up from 70 percent earlier.

Auto-Settlement Of Claims Sees Major Jump

The upgraded system, which went live on July 3, along with simplified rules, has enabled faster processing of claims, with some advance withdrawal requests being settled on the same day if submitted in the morning.

According to officials, EPFO processed a record 11 lakh claims worth Rs 3,000 crore in a single day, helping clear a substantial backlog created during the transition to the new cent...