Every working employee should stay updated about the latest changes related to the Employees’ Provident Fund Organisation (EPFO).
If you have an EPF account and ignore these updates, you may risk losing the money saved for your future.
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EPFO to Recover Inactive PF Accounts
There are millions of EPF accounts in India where money has been lying unused for years.
These accounts belong to employees who changed jobs, stopped working, or did not complete formalities on time.
Union Labour and Employment Minister Mansukh Mandaviya has announced that EPFO will soon launch a mission-mode campaign to recover such inactive and unclaimed PF accounts.
KYC Verification Now Mandatory
Under this campaign, EPFO will conduct KYC verification of account holders through a new dedicated digital platform.
This system will help identify closed or inactive PF accounts.
The platform will also trace the legal heirs of account holders so that the pending balance can be returned safely.
However, if KYC verification is not completed, the account holder may lose the entire amount lying in the EPF account.
PF Benefits for Employees Returning from Abroad
The Labour Minister also shared that India is expanding social security agreements with more countries, similar to the existing agreement with the UK.
Under these agreements, Indian employees working abroad will not lose their PF contributions made in foreign countries.
When they return to India, they will be able to claim and benefit from their accumulated social security funds.
EPFO Offices Going Fully Digital
EPFO is also focusing on upgrading its offices with modern digital technology.
Trials of a fully digital system have already started in Delhi.
Once implemented, employees will not need to visit EPFO offices repeatedly for claims or complaints.
They will be able to stay connected digitally and complete most tasks online, saving time and effort.
These changes aim to protect employees’ savings, improve transparency, and make EPFO services faster and more user-friendly.