New Delhi, May 15 -- The Employees' Provident Fund Organisation (EPFO) is set to introduce auto-settlements for final PF withdrawals to reduce delay and discrepancies, and eliminate avoidable paperwork. The auto-settlement facility is expected to make the entire process fully transparent and digital for more than seven crore subscribers.

According to the proposed plan, several retirees and other employees may soon witness their final PF claims processed automatically, without waiting for manual verification.

Currently, only advanced PF claims of up to Rs.5 lakh are eligible for auto-settlement, with the bulk of these getting cleared within 3 days. EPFO has already cleared about 70% of all advance claims in 72 hours and wants to replicat...