Recently, the EPFO, while answering a question asked by an RTI, has given information about transferring crores of rupees from inactive account to EPF members’ contribution fund.
You will be surprised to know that during the year 2018-19, due to the modification in the current EPF contribution account of the members from the inactive account, about Rs. 52,920 crores has been transferred.
In the same year 2018-19, Rs 2,881 crore has been released towards payment of claims from dormant account to account holders who came forward to claim their PF.
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The question given to the EPFO through RTI was asked in this context Amount, if any, transferred from inoperative accounts to some other head / account, please provide year wise details of such transfer. is.
You will be surprised to note that a sum of Rs. 52,920 Crores (Approx) has been transferred from In-operative account to EPF Contribution Fund – Members’ operative account during the year 2018-19, due to amendment in the definition of In-operative accounts.
Whereas only Rs. 2,881 crores have been released from the In-operative account in 2018-19 towards the payment of claims to those holders of In-operative accounts who came forward to claim their PF.
