Blog

The initiative comes at a time when a substantial amount of provident fund savings remains unclaimed. As per the report, around 30.91 lakh inoperative EPF accounts, containing nearly Rs 9,330 crore, have yet to be claimed. Under EPFO rules, an account becomes inoperative when it receives no contributions for three consecutive years. At present, nearly eight crore members contribute to EPF every month through approximately 7.89 lakh establishments.