Inoperative EPF accounts in India surged, holding Rs 8,505.23 crore, with efforts to return funds to beneficiaries.

The amount in inoperative Employees' Provident Fund (EPF) accounts in India surged over fivefold to Rs 8,505.23 crore in 2023-24 from Rs 1,638.37 crore in 2018-19. Despite this increase, there are no unclaimed accounts; instead, 21,55,387 accounts are classified as 'inoperative.' The EPFO plans to return these funds to beneficiaries and is raising awareness through multimedia campaigns to improve fund utilization.

November 25, 2024
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