Inoperative EPF Accounts Grow To Rs 8,505 Cr In 6 Years

The total amount in inoperative Employees’ Provident Fund (EPF) accounts has surged over five times to Rs 8,505.23 crore in FY 2023-24, up from Rs 1,638.37 crore in 2018-19. The number of such accounts increased from 6.91 lakh to 21.55 lakh. The EPFO ensures that amounts in these accounts are returned to beneficiaries after claims are filed and scrutinized.