Labour Ministry to Refund ₹30.52 Crore from 7 Lakh Inoperative EPF Accounts Automatically
The Labour Ministry is set to refund ₹30.52 crore from over 7 lakh inoperative EPF accounts with balances up to ₹1,000. This initiative will see automatic credits to Aadhaar-linked bank accounts without requiring subscribers to file claims or visit EPFO offices. This refund process is part of a broader reform aimed at modernizing EPFO services and reducing claim settlement times to under three days. The initiative targets accounts inactive for more than 36 months, with plans for future phases to address more inoperative accounts.
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The Labour Ministry is launching a cleanup of over 7.11 lakh inoperative EPF accounts, refunding ₹30.52 crore to members with balances of ₹1,000 or less. The funds will be credited automatically to Aadhaar-linked bank accounts without any need for paperwork or visits to EPFO offices.
This initiative is part of a larger reform effort under EPFO 3.0, which aims to modernize services and reduce claim settlement times to under three days. Currently, over ₹10,900 crore is lying idle across 31.86 lakh inoperative accounts, with a phased review planned for future refunds beyond the initial group of small accounts. The government’s focus is on enhancing automation and member convenience.
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