EPS 95 Amount lying in In-operative Accounts to be used for the Pensioners of EPS’95 MoL&E in reply Lok Sabha
As you might be aware, in reply to Question no. 240 in Lok Sabha on 18.12.2017, MoL&E had stated that the amount lying in In-operative Accounts will be used for the Pensioners of EPS’95.
In RTI application EPFOG/R/E/20/10338/2 dt. 9.8.2020 in Point Nos 5 & 6, the information sought was as under:
5. How much yearly amount has been transferred in the Senior Citizens Welfare Fund during the years 2016-17 to till date in compliance of Senior Citizens Welfare Fund Rules 2016 notified by the Ministry of Finance and by EPFO vide circular dt. 13.10.2017
(a) By EPFO
(b) BY PF TRUSTS of various establishments exempted by EPFO
6. In reply to unstarred question no. 240 in Lok Sabah, on 18.12.2017, MoL&E had informed that the corpus in the inoperative account as identified in the Finance Act 2015 to be transferred to Senior Citizens Welfare Fund WILL BE USED FOR THE PENSIONERS OF EPS 1995. Please intimate the year wise amount spent on the Welfare of EPS 1995 pensioners during 2016-17 to till date
Reply received on 15.9.2020 is as under
Reply :- Point 5 and 6.
(a) No amount has been transferred or spent on any welfare Scheme by EPFO so far.
(b) No information available for PF TRUSTS of establishments exempted by EPFO
Since no information has been provided by EPFO in r/o Point no. 6, I am filing 1st appeal.
*AMOUNT IN UNCLAIMED DEPOSIT ACCOUNTS (now called INOPERATIVE ACCOUNTS)
(The words UNCLAIMED DEPOSIT ACCOUNTS have been substituted with the words INOPERATIVE ACCOUNTS vide GSR 228(E) dt. 22.3.2007)
As per the information obtained from time to time, the closing balance of Inoperative Accounts was as under (see further details in the attachments):
As on 31.3.2011: Rs. 14,914 Crores
As on 31.3.2012: Rs. 22,636 Crores
As on 31.3.2013: Rs. 26,496 Crores
As on 31.3.2014: Rs. 27,448 Crores
As on 31.3.2015: Rs. 35,531 Crores
As on 31.3.2016: Rs. 40,865 Crores
As on 31.3.2017: Rs. 45,093 Crores
As on 31.3.2018: Rs. 54,658 Crores
As on 31.3.2019: Rs. 1,638 Crores (Rs. 52,920 Crores transferred from Inoperative to Operative Accounts)
Instead of spending this amount for the welfare of EPS ’95 pensioners (as stated in Lok Sabha by MoL&E on 18.12.2017), EPFO transferred a sum of Rs. 52,920 Crores in 2018-19 to the Operative account. That shows that EPFO doesn’t care even for the commitment made by MoL&E on the floor of the Lok Sabha.
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