Unclaimed EPFO Accounts? What Labour Ministry Said (image:x.com/ShobhaBJP/)

There are no unclaimed accounts in Employees’ Provident Fund (EPF), the Labour Ministry informed the Parliament on Wednesday. In written response to a question raised by Rajya Sabha MP Bhim Singh concerning the details of unclaimed deposits of various categories lying with the Employees’ Provident Fund Organisation (EPFO), Labour and Employment Minister Sushri Shobha Karandlaje explained about unclaimed accounts in EPF.

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Minister also mentioned about inoperative accounts in EPF; “… as per para 72(6) of the Employees’ Provident Fund Scheme, 1952, certain accounts are classified as: Inoperative accounts,” Minister said. As Rajya Sabha MP pointed whether Government proposes to utilise such unclaimed funds for public welfare, Labour minister answered “All such inoperative accounts have definite claimants and whenever such a member prefers a claim in EPFO, the same is settled after scrutiny.”

In a question posed regarding the number of beneficiaries of Atmanirbhar Bharat Rozgar Yojana (ABRY), Labour minister said that an amount of Rs. 10,188.50 crore has been disbursed to 60.49 lakh beneficiaries as on 31.03.2024. In the written response, Minister added the state-wise details of number of beneficiaries under ABRY as well.

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Launched in 1st October, 2020, ABRY aimed to incentivize employers for creation of new employment and restoration of loss of employment during Covid-19 pandemic. The beneficiaries registered upto March 31, .2022 continued to receive the benefits for 2 years from the date of registration under the scheme.