Employees’ Provident Fund Organisation (EPFO) has settled 118 lakh claims including PF withdrawals during last fiscal.
In an official statement, EPFO said, of the total settled claims, 96 per cent were settled within the mandated period of 20 days.
The EPFO also redressed over two lakh grievances during the fiscal year 2015-16.
In order to widen the social security net, the government took a major decision to bring all banks under the ambit of Employees Provident Fund and Miscellaneous Provisions Act employing 20 or more persons.
It said that all such banks will be covered under the Act with effect from 10th of February this year.
EPFO said that it would observe April, May and June as Compliance for Construction Workers months, to bring more and more construction workers under the ambit of the Act.