The Economic Times

EPFO's new social security rules tighten claim timelines, mandate digital compliance

New social security schemes under the Code on Social Security are now in effect, prioritizing digital compliance and faster claim settlements for provident fund, pension, and insurance. EPFO officials face a 12% annual penal interest for delays exceeding 20 days without valid reasons. Contribution structures remain unchanged, with a focus on enhancing online access for members and extending digital requirements to exempted establishments.