UNKIND CUT: Account holders will have to apply fortransfer or closure to be eligible to getinterest. Out of the total 15 crore EPF accounts, 9.23 crore are inoperative with about Rs.44,000 crore deposits in them. The EPFO has been earning money from the funds in these inoperative accounts. Lacking detailsMr. Joy said the EPF office doesn’t have “crucial details” such as date of birth of many account holders. The decision to credit interest in inoperative EPF accounts was first announced by Labour Minister Bandaru Dattatreya in March.

Source: The Hindu December 04, 2016 15:54 UTC