0 months ago
EPFO to Launch E-PRAAPTI to Help Claim Unclaimed PF Savings
Many grown-ups save money for their future in something called a Provident Fund, or PF.
It is like a special piggy bank that their workplace puts money into every month.
Sometimes people change jobs or stop working and forget about their old piggy banks.
When no money goes into an account for three whole years, it is called an "inoperative" account.
Right now, about 30.91 lakh of these old accounts still have money in them.
All together, that money is nearly Rs 9,330 crore, which is a very big amount.
An organisation called EPFO takes care of all this money.
EPFO is making a new tool called E-PRAAPTI to help people find their old accounts.
With E-PRAAPTI, people will be able to look up and claim the money that belongs to them.
This will help people get back savings they may have forgotten about.
EPFO will soon launch E-PRAAPTI, a tool to help members find and claim old provident fund savings.
Around 30.91 lakh inoperative EPF accounts hold nearly Rs 9,330 crore in unclaimed savings.
An EPF account becomes inoperative when it receives no contributions for three consecutive years.
Nearly eight crore members currently contribute to EPF every month.
Monthly contributions come from approximately 7.89 lakh establishments.
The exact launch date of E-PRAAPTI has not been announced yet.
- Who
- Employees' Provident Fund Organisation (EPFO)
- What
- The launch of E-PRAAPTI, an initiative to help members find and claim savings in inoperative provident fund accounts
- Where
- Not explicitly specified in the article
- When
- Soon; no specific launch date was provided in the article
- Why
- Because around 30.91 lakh inoperative EPF accounts holding nearly Rs 9,330 crore remain unclaimed
Key facts
- Organisation
- Employees' Provident Fund Organisation (EPFO)
- New initiative
- E-PRAAPTI
- Unclaimed accounts
- Around 30.91 lakh inoperative EPF accounts
- Unclaimed amount
- Nearly Rs 9,330 crore
- Inoperative account rule
- No contributions received for three consecutive years
- Monthly contributors
- Nearly eight crore members
- Contributing establishments
- Approximately 7.89 lakh









