EPFO Account: EPFO is a very important and effective scheme for the employed people in the country. The amount of PF deducted from your salary every month is deposited in your account, which creates a good fund for you at the time of retirement. However, many people do not know about the rules of EPF account. Many times people’s PF account becomes inactive and they do not even realize it. Many times the EPF account is not used for a long time and when one leaves the job, the account becomes inactive.
Recently the government has informed that EPF accounts of lakhs of people have been closed. Is your name also not there in this list? If yes, then let us know how its status can be checked.
Stopped after eating more than 20 lakhs
According to the government, EPF accounts of more than 20 lakh people in the country have been closed. Minister of State for Labor and Employment Shobha Karandlaje told in the Rajya Sabha that the number of non-operative EPF accounts in the financial year 2020-21 was 11,72,923. But in the financial year 2023-24, this number increased to around 21,55,387. According to the information, the average amount per inoperative account in 2020-21 was Rs 33,513, but increased to Rs 39,460 in 2023-24.
How to check status?
If your old PF account appears inactive, then the money deposited in it should not be ignored. If you want to check the status of your PF account, then check the information of your old PF account. In such a situation, you should check all the Member IDs related to UAN. Along with this, complete the process of transferring the old PF balance to the new account.