21 lakh inactive EPF accounts hold Rs 8,500 crore, says govt

Over 21 lakh Employees' Provident Fund accounts with a balance of Rs 8,505 crore were inoperative in 2023-24, the government told the Rajya Sabha on Thursday. Minister of State for Labour and Employment Sushri Shobha Karandlaje said the number has risen sharply from 17.4 lakh accounts holding Rs 6,805 crore in 2022-23.

The primary reason is members not filing claims after leaving service, Karandlaje said. EPFO continues to credit interest until the member turns 58, after which the account becomes inoperative. The government has introduced auto-initiation of EPF claims in the new EPF Scheme, 2026, to directly credit accumulations to Aadhaar-seeded bank accounts. Outreach camps under Nidhi Aapke Nikat 2.0 are also being held.