How many subscribers will receive unclaimed EPF deposits?

Over 3.1 million subscribers are expected to receive their unclaimed EPF deposits.

What is the new scholarship amount for unorganised workers' children?

A merit-based scholarship of up to Rs 25,000 will be available for the children of unorganised workers.

How much money is in unclaimed EPF accounts?

EPFO holds an estimated Rs 10,903 crore in unclaimed deposits across inoperative accounts.

Home / Business and Economy / Unclaimed EPF Funds to Be Returned to Millions

Unclaimed EPF Funds to Be Returned to Millions

23 Feb

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Summary

Over 3.1 million subscribers to receive unclaimed EPF deposits.
Pilot phase will benefit 0.7 million subscribers soon.
New scholarships up to Rs 25,000 for unorganised workers' children.

Unclaimed EPF Funds to Be Returned to Millions

The Ministry of Labour and Employment is set to return unclaimed deposits from inoperative Employees' Provident Fund Organisation (EPFO) accounts to over 3.1 million subscribers. A pilot phase is expected to commence soon, which will benefit approximately 0.7 million individuals.

EPFO currently holds unclaimed amounts totaling Rs 10,903 crore across an estimated 31.86 lakh inoperative accounts. The initial phase will focus on 0.7 million accounts where Aadhar and bank details are linked, allowing for direct credit of dues.