EPFO Marks 74 Years: Rs 32 Lakh Crore Corpus, Digital Reforms Strengthen Social Security Network

EPFO Marks 74 Years: Rs 32 Lakh Crore Corpus, Digital Reforms Strengthen Social Security Network

New Delhi, Nov 2: The Employees’ Provident Fund Organisation (EPFO) has built a strong reputation as one of India’s most trusted social security institutions over the past 74 years, Union Labour and Employment Minister Mansukh Mandaviya said on Sunday.

 Pic Credit: x.com/PIB_India

Addressing the organisation’s 74th Foundation Day celebrations in New Delhi, Mandaviya highlighted its contribution to workers’ financial security, noting that EPFO manages a retirement corpus of nearly ₹32 lakh crore, accumulated through contributions from more than eight crore members.

He urged officials to ensure that technological progress goes hand in hand with compassionate and efficient service, stressing that workers must receive timely assistance and their grievances should be handled with empathy and dignity.

Mandaviya Calls for Innovation Ahead of EPFO’s 75th Year

The Union Minister called for greater innovation and further reforms as the organisation approaches its 75th year. He emphasised that improving service delivery should remain a priority, with technology serving the needs of members rather than becoming a barrier.

Labour Secretary Chandra Bhushan Kumar also stressed the importance of expanding social security coverage to workers in the unorganised sector. He called for continuous improvements in public services through digital transformation.

Technology Upgrade Speeds Up PF Claim Settlement

EPFO highlighted the impact of its technology upgrade, CITES 2.01, which has significantly reduced the time required to process claims.

According to the organisation, the average claim settlement time came down to 2.57 days in October 2026.

In another digital initiative, members will be able to access their provident fund balances, transaction records and passbook details through EPFO’s verified WhatsApp service, making essential account information more accessible.

Inactive PF Accounts Up to ₹1,000 to Be Settled Automatically

A major relief measure announced by EPFO involves the automatic settlement of eligible inoperative accounts carrying balances of up to ₹1,000.

The process will apply to Aadhaar-verified accounts after the required identity and bank verification is completed. Around one lakh accounts, involving an estimated ₹5 crore, are expected to benefit from the initiative.

The move is aimed at helping eligible members receive small, unclaimed provident fund balances without having to go through a lengthy settlement process.

EPFO Serves 8 Crore Members and 85 Lakh Pensioners

Central Provident Fund Commissioner Ramesh Krishnamurthi said EPFO currently serves around eight crore contributing members and 85 lakh pensioners.

With a retirement fund corpus of nearly ₹32 lakh crore, the organisation remains a key pillar of India’s formal-sector social security framework.

Focus on Trust, Transparency and Better Services

The 74th Foundation Day celebration highlighted EPFO’s efforts to modernise its operations while strengthening its commitment to workers and pensioners.

As it moves towards completing 75 years, the organisation faces the task of widening social security coverage, improving digital access and ensuring that members receive reliable and timely services.

The message from the celebrations was clear: EPFO’s future growth must be built not only on technology and financial strength, but also on trust, transparency and a worker-first approach.