EPFO Initiates Steps for Settlement of Unclaimed Balances
The EPFO is implementing an auto-settlement feature to return approximately Rs 5,200 crore in unclaimed funds to 8.1 lakh subscribers.Summary
The Employees Provident Fund Organisation (EPFO) is taking steps to settle unclaimed balances in inoperative accounts, aiming to return approximately Rs 5,200 crore to around 8.1 lakh subscribers. The initiative includes an auto-settlement feature that will transfer funds directly to subscribers’ bank accounts without requiring a formal claim, initially targeting Aadhaar-verified accounts. Accounts with balances of Rs 1,000 or less will be automatically settled. The EPFO is prioritizing members who joined after October 2017. An account is considered inoperative when it ceases to earn interest, typically after three years of no contributions for those over 55, or until age 58 for those under 55. As of February 2026, there are 31.8 lakh inoperative accounts holding a total of Rs 10,181 crore. The EPFO’s efforts aim to streamline access to these funds for subscribers.
(Source：The Csr Journal)