Dear Mojoman,
The meaning of the message is that your claim has been received by the respective pf office. They generally take about 2 weeks for their internal process and then approve the payment. You will then see a different status stating that your claim has been approved and that the payment is under process.
However, the time duration for the settlement entirely depends upon the efficiency of the respective PF office where you account is maintained. Some PF offices are quite efficient and have high percentage of member data updated. The PF Board is also working on making the online pf remitance-withdrawal-tranfer process more efficient and member friendly. Educating the various PFO's employees and the users regarding this online process is also a task which seems to be challenging. However, it will still take some time for them to get the process smooth and straight. To add to this, most of the PF Offices have been functioning with less staff. There have been quite a lot of officials who have retired in the last few years. This has added to the issue of staff-shortage which they were trying to cope up earlier, through contact staff. This has affected the quality of deliveries.
I only hope everything falls into place soon because it has already been over 2 years that the PF body is trying to get these things straight. During this course of time, it has been people like you and all others who have applied, who have suffered.
So, the only thing you can do currently is "wait and watch".
Cheers,
A.B.