Inoperative EPF accounts' total amount up 5 fold to Rs 8,505 cr in 6 years
Employees' Provident Fund Organisation (EPFO).
However, she stated that as per Para 72(6) of the Employees' Provident Fund Scheme, 1952, certain accounts are classified as 'Inoperative accounts'.
She informed the House that as many as 21,55,387 inoperative EPFO accounts had Rs 8,505.23 crore in 2023-24. In 2018-19, there were 6,91,774 inoperative accounts which had Rs 1,638.37 crore.
Similarly, in 2022-23, as many as 17,44,518 inoperative accounts had Rs 6,804.88 crore.
She told the House that the EPFO will return the amount held in the inoperative accounts to the beneficiaries concerned.
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