Question : UNCLAIMED MONEY WITH EPFO



(a) the amount of unclaimed/dormant money lying with the Employees Provident Fund Organisation (EPFO) at present, State-wise;

(b) the reasons for not introducing a central database on the accounts and account holders;

(c) whether this has led to multiple accounts for each employee when shifting employment; and

(d) if so, the measure being taken by the Government to make the EPFO more employees oriented?

Answer given by the minister


MINISTER OF STATE FOR LABOUR AND EMPLOYMENT(SHRI HARISH RAWAT)

(a): Region-wise details of Inoperative Account (unclaimed money) as per the audited Balance Sheet for the financial year 2008-09 is given in Annexure.

(b): The database of the members is not centrally maintained and is primarily maintained by the Regional/Sub-Regional Offices of Employees’ Provident Fund Organisation (EPFO). However, in ‘Computerisation Project’ of the EPFO, a Central Depository for keeping Members database has been envisaged to have a quick access to member’s database even at Head Office level.

(c): Yes, this is one of the reasons for multiple accounts in case of certain members.

(d): Various steps have been taken by the EPFO to strengthen Service to Members Area. Introduction of National Electronic Funds Transfer (NEFT), Short Message Service (SMS) facility for claim settlement, EPFiGMS (internet based grievances mechanism system) and Special drive for priority disposal of transfer cases are few of such instances in this direction. In addition to it, the ‘Computerisation Project’ of the EPFO will provide more tools to serve the subscribers in much better way.Â