Unclaimed EPF money to fund Medical costs of EPF Pensioners

There is currently a proposal by which unclaimed EPF money will be used for funding medical expenses of EPFO pensioners at ESIC hospitals

 

Savings remaining unclaimed in dormant Employees’ Provident Fund (EPF) accounts for seven years will be used to fund a new scheme for providing medical benefits to pensioners under the EPF scheme, according to Labour Ministry sources.

 

As per the news on Hindu Business line, the amount that is remaining claimed for nearly 7 years will be used to fund a new welfare scheme if it’s implemented which would benefit only EPF Pensioners