Rs 27,000 crore unclaimed PF disbursals in two months: Govt

The Centre is making efforts to disburse most of the Rs 27,000 crore amount lying in "inoperative" EPFO accounts in the next two months, Union Labour Minister Bandaru Dattatreya said today.
"We have already started a nationwide campaign (on disbursal). Yesterday, I was in Mumbai. I reviewed it. Our field officers have found out to some extent (about beneficiaries and others). In my calculation, in two or two- and-half-months, most of the amount can be given (to workers)," he told reporters here.
Replying to a query, he said guidelines are being prepared on what to do with the money of workers who have passed away.

A whopping Rs 27,000 crore of money is lying "inoperative" with the EPFO (Employees Provident Fund Organisation) for lack of accurate details of workers.
Dattatreya said the launch of social security cards for workers in the unorganised sector is likely to take place by March-end.
"I will speak to the Prime Minister on this and may be, the end of March, we have to decide on launching programme of social security cards. So, most probably, end of March."

Noting that the NDA Government is delegating more powers to the States, he said he has written letters to Chief Ministers, urging them to take steps on different issues concerning welfare of workers.

The Minister said India has so far signed Social Security Agreements (SSAs) with 18 countries, out of which 13 pacts have been made effective as of now. Till the end of March 2014, about 31,000 Indians have taken Certificates of Coverage from EPFO to work in various countries.
The SSAs are signed with various countries so that the Indian workers are exempted from mandatory social security contribution in the country of their posting. The benefits of contribution made abroad are received by way of totalisation and the payment is received in India.