Relief news for lakhs of account holders of EPFO, amount deposited in inactive PF accounts will be returned, know the complete process here

EPFO: There are many EPFO ​​account holders in the country whose accounts have become inactive. Because when there is no financial activity in an EPFO ​​account for three consecutive years, it is deactivated. Lakhs of such accounts have been lying inactive for years and people’s money is also stuck in them. But now the good news is that your money stuck in these accounts will be sent back to your account. In fact, the government has identified 31 lakh inactive accounts and the Labor Ministry has made preparations to return the small amount lying in inactive PF accounts.

No application or paperwork required

Now the biggest and special thing is that the account holders will not have to do any kind of application or paperwork for this. The money will be transferred directly to your bank account. According to the government, there are about 6 lakh accounts in the country in which Rs 1000 or less are deposited. The amount deposited in neither account will be sent directly to the respective bank accounts without any application. According to the report, money will be transferred to the accounts which are linked to Aadhaar with immediate effect.

Amount will be sent in step wise manner

The amount will be sent to the remaining accounts in a step wise manner. Let us tell you that at present this process is being started as a pilot project. 6 lakh accounts have been included in the first phase of this scheme. If the system is successful in this phase, then the amount will be transferred to the remaining 25 lakh inactive accounts under this model. About Rs 10,903 crore is deposited in about 31.86 lakh inactive accounts. Apart from this, a total of Rs 30.52 crore is lying in accounts with amounts up to Rs 1000.

Also read: Gwalior News: “Either build a highway or remove toll”, bullet-riding youth opened fire at the toll plaza in film style.