Whose bank accounts will receive the PF deposits? Check your status like this

Around 3.1 million PF accounts have been identified across the country that have been inactive for a long time. Of these, approximately 600,000 accounts have deposits of Rs 1,000 or less. These accounts will be the first to receive the money back.

Employees often forget their old PF accounts after changing jobs. Sometimes, a small amount remains in the account, but no withdrawals are made for years. A major update has now emerged regarding such inactive accounts. The EPFO ​​has decided to initiate the process of returning small amounts lying in such accounts. This step, taken on the instructions of the Union Labor Ministry, is expected to benefit millions of account holders. Importantly, for accounts with very low balances, the account holder will not need to submit a separate application for the refund. The money will be transferred directly to the bank account linked to Aadhaar. So, let's now explain which bank accounts will receive the PF deposits and how to check their status.

Which accounts will receive the money?

Around 3.1 million PF accounts across the country have been identified that have been inactive for a long time. Of these, approximately 600,000 accounts have a balance of Rs 1,000 or less. These accounts will be the first to receive the money back. If your old account has been unused for several years and has a balance of less than Rs 1,000, the amount will be transferred directly to your Aadhaar-linked bank account. Note that funds will only be transferred to accounts whose bank account and Aadhaar details are updated and linked.

What is an Inactive PF Account?

If a PF account has no payments or withdrawals for three consecutive years, it is considered inoperative. However, such an account is not permanently closed. Upon getting a new job, the old UAN can be reactivated by linking it to the new employer. There are also frequent complaints that some companies deduct PF from employees' salaries but do not deposit it on time. To strengthen oversight, the EPFO ​​is linking its database with the government procurement portal GeM, the GST department, and other agencies. This will make it easier to identify companies that are not complying with regulations.

How to check your status?

If your account is inactive and you want to check your balance under this government initiative, you can log in to the EPFO ​​portal and check your balance.

You can also access the information through the View Passbook option on the UMANG app.

Balance information can also be obtained by giving a missed call from your registered mobile number.

In addition, PF balance can also be checked by sending an SMS.