Mon Apr 06 14:50:00 UTC 2026: ### Dormant Provident Fund Accounts in Noida to See Automatic Settlements

The Story: Over 21,000 Provident Fund (PF) accounts in Noida, India, have been identified as inactive, with 5,500 of those accounts holding less than ₹1,000. These accounts, totaling over ₹23 lakh, have remained untouched for more than three years, with some account holders residing abroad. The Employees’ Provident Fund Organisation (EPFO) is implementing System 2.0 to automatically settle accounts with balances under ₹1,000 by the end of April, provided the bank accounts are linked to Aadhaar.

Key Points:

  • 21,521 PF accounts in Noida are currently inactive.
  • 5,471 accounts hold less than ₹1,000, totaling ₹23,32,770.
  • Automatic settlement of accounts with less than ₹1,000 will begin with the implementation of System 2.0 by the end of April.
  • Linking bank accounts to Aadhaar is mandatory for fund transfer.
  • Nationwide, over ₹5.68 crore is being returned from 1.33 lakh inactive accounts as part of digital reforms.
  • Those without a Universal Account Number (UAN) must obtain one by submitting verified documents to the EPFO.
  • Some account holders are residing abroad.

Key Takeaways:

  • The EPFO is actively addressing the issue of dormant PF accounts through digital automation.
  • Linking Aadhaar to bank accounts is crucial for individuals to access their PF funds.
  • A significant amount of money is tied up in inactive PF accounts across the country.
  • The EPFO is streamlining the process for claiming funds from inactive accounts, reducing the administrative burden.
  • Account holders need to ensure their documentation is up-to-date and verified to avoid complications in accessing their funds.

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