Unclaimed funds under the Employees' Provident Fund Organisation (EPFO) have crossed Rs 10,900 crore, raising concerns about forgotten savings.
Millions of inactive accounts are holding money that employees have not claimed after job changes.
Why Is Unclaimed EPF Increasing?
The rise in unclaimed EPF is linked to several factors:
- Frequent job switching without transferring PF
- Lack of awareness about old accounts
- Errors in personal details or KYC
- Dormant or inoperative accounts
Reports suggest over 31 lakh accounts have become inactive over time.
What Happens to Inoperative Accounts?
When a PF account remains unused for a long period, it becomes inoperative.
While the money remains safe, employees often lose track of it, especially if they change jobs multiple times.
How to Check Your EPF Balance
You can easily check your PF balance through official channels:
- Visit EPFO official website
- Use the UMANG app
- Send an SMS or give a missed call linked to your UAN
These methods help you track all your PF accounts in one place.
Steps to Claim or Transfer EPF Money
To claim or transfer your EPF:
- Log in to the EPFO portal using your UAN
- Link and verify your KYC details
- Select “Transfer Request” for job change
- Submit claim online for withdrawal or transfer
The process is now largely digital and user-friendly.
Importance of Merging Multiple PF Accounts
If you have worked in multiple organisations, you may have several PF accounts.
Merging them into one account ensures:
- Better tracking
- Continuous interest accrual
- Easier withdrawal
Government Efforts to Simplify Process
The EPFO has introduced digital services and UAN-based tracking to reduce unclaimed funds.
However, awareness among employees remains a key challenge.
Why You Should Act Now
Leaving PF money unclaimed means missing out on financial benefits.
It is important to regularly check and manage your accounts to avoid losing track of your savings.
Outlook: Need for Awareness and Action
The rise in unclaimed EPF highlights the need for better financial awareness.
Taking simple steps today can help you recover your money and secure your future.
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