EPFO's Central Board of Trustees has approved a pilot for auto-settling 1.33 lakh inoperative accounts with balances ≤ ₹1,000 directly to members' bank accounts. This addresses a significant unclaimed funds issue and simplifies the claims process for members. It is a key governance reform for financial inclusion and efficiency.
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- ›Total Inoperative Accounts: 31.83 lakh
- ›Total Unclaimed Balance: ₹10,181 crore
- ›Target this Data: 31.83 lakh inoperative accounts holding ₹10,181 crore (as of March 31, 2025).
- ›Target this Nodal Body: Central Board of Trustees (CBT) of EPFO.
- ›Target this Legal Point: EPFO operates under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952.
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