Inoperative EPF Accounts Soar 84%: Why More Retirement Money Is Being Left Unclaimed

I ope ative
Employees& squo;
P ovide t
Fu d
(EPF)
accou ts
i c eased
by
ea ly
84%
betwee
Fi a cial
Yea
(FY)
2020-21
a d
FY
2023-24,
while
the
amou t
lyi g
i
these
accou ts
mo e
tha
doubled,
acco di g
to
data
sha ed
by
Shobha
Ka a dlaje,
Mi iste
of
State
fo
Labou
a d
Employme t,
i
the
Rajya
Sabha
o
Thu sday
(August
13,
2026).

The
data
showed
that
the
umbe
of
i ope ative
EPF
accou ts
ose
f om
11,72,923
i
FY
2020-21
to
21,55,387
i
FY
2023-24.
Ove
the
same
pe iod,
the
bala ce
i
these
accou ts
i c eased
f om
Rs
3,930.85
c o e
to
Rs
8,505.23
c o e.

Ka a dlaje
was
espo di g
to
a
que y
by
Nee aj
Da gi,
Membe
of
Pa liame t
(MP),
who
sought
yea -wise
a d
state/U io
Te ito y-wise
details
of
i ope ative
EPF
accou ts
a d
the
amou t
lyi g
i
them
f om
FY
2020-21
o wa ds.
He
also
sought
details
of
claims
settled
agai st
such
accou ts
a d
asked
whethe
the
gove me t
had
assessed
the
easo s
behi d
the
ise
i
i ope ative
accou ts.

EPF
Accou ts,
Bala ce
A d
Settled
Amou t:
Yea -Wise
Data

The
Labou
Mi ist y
p ovided
the
followi g
figu es
fo
FY
2020-21
to
FY
2023-24:

• FY
  2020-21:
  11,72,923
  i ope ative
  accou ts,
  with
  a
  bala ce
  of
  Rs
  3,930.85
  c o e
  a d
  Rs
  1,855.55
  c o e
  settled.
• FY
  2021-22:
  13,41,848
  i ope ative
  accou ts,
  with
  a
  bala ce
  of
  Rs
  4,962.70
  c o e
  a d
  Rs
  2,269.75
  c o e
  settled.
• FY
  2022-23:
  17,44,518
  i ope ative
  accou ts,
  with
  a
  bala ce
  of
  Rs
  6,804.88
  c o e
  a d
  Rs
  2,673.98
  c o e
  settled.
• FY
  2023-24:
  21,55,387
  i ope ative
  accou ts,
  with
  a
  bala ce
  of
  Rs
  8,505.23
  c o e
  a d
  Rs
  2,632.29
  c o e
  settled.

(Sou ce:
Mi ist y
of
Labou
&
Employme t
i
Rajya
Sabha)

U settled
EPF
Bala ce
Su ges
116%

The
bala ce
lyi g
i
i ope ative
EPF
accou ts
i c eased
by
ea ly
116%
ove
the
fou
yea s,
isi g
f om
Rs
3,930.85
c o e
i
FY
2020-21
to
Rs
8,505.23
c o e
i
FY
2023-24.

I
compa iso ,
the
amou t
settled
du i g
the
pe iod
i c eased
by
a ou d
42%,
f om
Rs
1,855.55
c o e
to
Rs
2,632.29
c o e.

The
settled
amou t
also
decli ed
slightly
betwee
FY
2022-23
a d
FY
2023-24.
It
fell
f om
Rs
2,673.98
c o e
to
Rs
2,632.29
c o e,
a
decli e
of
1.56%.

Sha e
Of
Settled
Amou t
Falls

The
p opo tio
of
the
bala ce
that
was
settled
also
decli ed
ove
the
fou -yea
pe iod.

I
FY
2020-21,
Rs
1,855.55
c o e
was
settled
agai st
a
bala ce
of
Rs
3,930.85
c o e,
accou ti g
fo
a ou d
47%
of
the
total.
By
FY
2023-24,
the
settled
amou t
stood
at
Rs
2,632.29
c o e
agai st
a
bala ce
of
Rs
8,505.23
c o e,
b i gi g
the
p opo tio
dow
to
a ou d
31%.

Ave age
Bala ce
Pe
I ope ative
Accou t
Rises

The
ave age
amou t
lyi g
i
a
i ope ative
EPF
accou t
also
i c eased
du i g
the
pe iod.

It
ose
f om
Rs
33,513
i
FY
2020-21
to
Rs
39,460
i
FY
2023-24,
a
i c ease
of
a ou d
18%
ove
fou
yea s.

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Why
A e
I ope ative
EPF
Accou ts
I c easi g?

Respo di g
to
Da gi’s
que y,
Ka a dlaje
said
the
p ima y
easo
fo
the
ise
i
i ope ative
EPF
accou ts
was
the
o -fili g
of
claims
by
membe s
afte
exiti g
se vice.

“Additio ally,
due
to
the
KYC
updatio
(Aadhaa
seedi g)
d ive
fo
all
its
membe s,
accou ts
so
fa
ot
classified
because
of
the
abse ce
of
membe s’
date
of
bi th,
have
ow
bee
catego ised
as
i ope ative,& dquo;
the
mi iste
said.

Gove me t
Measu es
To
Ide tify
I ope ative
Accou ts

Ka a dlaje
said
the
gove me t
has
take
measu es
to
ide tify
a d
catego ise
i ope ative
EPF
accou ts
with
u claimed
accumulatio s
based
o
the
availability
a d
status
of
KYC
details.

A
p ovisio
fo
auto-i itiatio
of
EPF
claims
has
also
bee
i co po ated
i to
the
evised
EPF
Scheme,
2026.
The
p ovisio
is
aimed
at
facilitati g
di ect
c edit
of
accumulatio s
to
Aadhaa -seeded
ba k
accou ts.

The
Employees’
P ovide t
Fu d
O ga isatio
(EPFO)
has
also
u de take
out each
a d
awa e ess
i itiatives
th ough
social
media
platfo ms
a d
Nidhi
Aapke
Nikat
(NAN)
2.0
camps.
These
i itiatives
a e
aimed
at
i fo mi g
employe s
a d
employees
about
EPF
se vices
a d
i ope ative
accou ts.

How
Ca
You
Activate
A
I ope ative
EPF
Accou t?

Fo
employees
wo ki g
i
a
establishme t
cove ed
u de
the
EPF
&
MP
Act,
1952,
the
amou t
ca
be
t a sfe ed
to
the
ew
accou t
th ough
o li e
o
offli e
modes.

Those
who
have
eti ed
ca
withd aw
the
amou t,
as
pe
EPFO
i st uctio s.

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