Business

EPFO Reaches Milestone with 2.16 Crore Auto-Claims Settled in Current Fiscal Year

Published

1 year ago

March 18, 2025

Union Minister of State for Labour and Employment, Shobha Karandlaje, announced in the Lok Sabha on Monday that the Employees’ Provident Fund Organisation (EPFO) has reached a remarkable milestone by settling 2.16 crore auto claims in the current financial year, a significant increase from 89.52 lakh in 2023-24.

The minister provided this information in a written response, highlighting that auto-mode claims are processed within just three days. To further enhance convenience, the limit for auto processing of advance claims has been raised to Rs 1 lakh. In addition to advances related to illness and hospitalization, claims for housing, education, and marriage can now also be processed automatically. Currently, 60% of advance claims are handled in auto mode, as reported by the MoS.

The process for correcting member details has been streamlined; members with Aadhaar-verified Universal Account Numbers (UANs) can now make corrections independently, eliminating the need for EPFO intervention. “As of now, approximately 96% of corrections are completed without any involvement from EPF offices,” the minister stated.

An impressive 99.31% of claims are submitted online, negating the need for visits to field offices. As of March 6, 2025, 7.14 crore claims have been processed via online mode.

Minister Karandlaje also mentioned that the requirement for employer attestation of Aadhaar-verified UANs in transfer claim submissions has been removed. “Currently, only 10% of transfer claims necessitate attestation from both the member and the employer,” she explained.

Furthermore, the minister informed Parliament that EPFO has implemented provisions for members to de-link accounts that were incorrectly or fraudulently linked by establishments. Since its introduction on January 18, 2025, over 55,000 members have successfully de-linked their accounts by the end of February 2025.

In a continued effort to enhance system functionality, the minister noted that the claim settlement process is being simplified through the centralization of member databases under the Centralized IT Enabled System (CITES 2.01).

Business

Opendoor Shuts Down India Operations, 250 Employees Affected

Published

1 week ago

June 11, 2026

Namma Kudla

Business: US-based real estate technology company Opendoor has decided to close its operations in India. The move will impact nearly 250 employees.

CEO Kaz Nejatian said the company is bringing operational roles closer to its customers in the United States. He explained that most of Opendoor’s customers are based in America.

The company said the decision is not related to the performance of its India team. Nejatian praised the employees for their hard work and contributions.

Affected workers will receive severance pay, job placement support, and other assistance. A small number of employees will stay temporarily to help with the transition.

Opendoor said it will continue focusing on simplifying operations and improving efficiency with new technology and AI.

Business

Domestic LPG Cylinder Price Increased by Rs 29

Published

2 weeks ago

June 7, 2026

Namma Kudla

New Delhi: The price of domestic LPG cooking gas cylinders has been increased by Rs 29 across India. This is the second price hike in the last three months.

The increase comes as global energy prices continue to rise due to the ongoing conflict in the Middle East.

After the revision, a domestic LPG cylinder now costs Rs 942 in Delhi, Rs 941.40 in Mumbai, Rs 968 in Kolkata, and Rs 957.50 in Chennai. In Bengaluru, the new price is Rs 944.50 per cylinder.

The government said the cost of supplying LPG has increased significantly. However, subsidies under the Pradhan Mantri Ujjwala Yojana continue to help over 10 crore beneficiaries.

Petrol, diesel, and CNG prices have also increased in recent weeks as global fuel markets remain volatile.

Business

Honda Begins Delivery of 2026 City Hybrid

Published

2 weeks ago

June 3, 2026

Namma Kudla

Business: Honda Cars India has started delivering the new 2026 Honda City Hybrid to customers. The first car was handed over at a dealership in Bengaluru.

Honda President and CEO Takashi Nakajima attended the special delivery event. Other senior company officials were also present.

The first customer received a Crystal Black Pearl Honda City Hybrid. The car was delivered with a symbolic key and a gift hamper.

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The updated City comes with new features such as ventilated front seats and a 360-degree camera. It also offers wireless Apple CarPlay, Android Auto, and a sunroof.

The sedan is available with petrol and strong-hybrid powertrain options. Honda claims the hybrid version delivers a mileage of 27.26 kmpl.

The Honda City competes with the Volkswagen Virtus, Skoda Slavia, and Hyundai Verna in India.