What are dormant EPF accounts and how EPFO’s auto-settlement plan aims to fix it
The issue of dormant Employees’ Provident Fund (EPF) accounts is back in focus as the Employees’ Provident Fund Organisation (EPFO) pilots an automated system to transfer unclaimed balances directly into subscribers’ Aadhaar-linked bank accounts. The first phase of the initiative will cover around 8.1 lakh inoperative accounts worth an estimated ₹5,200 crore. The move is…
