As of March 31, 2026, Rs 9,330.56 crore remains in inoperative Employees’ Provident Fund (EPF) accounts, as revealed by the government in Rajya Sabha. The EPFO is conducting outreach to inform members, who can claim funds by transferring or withdrawing them.
India's new EPF Scheme, 2026, replacing the 1952 version, maintains core features like contribution rates and protected balances. It introduces clarifications on voluntary contributions, withdrawal rules, and digital processes, aiming for a modernized, flexible framework.
Indian regulations strictly permit only one personal Public Provident Fund (PPF) account. Investors with duplicate accounts must identify a primary account, regularize the second through the Ministry of Finance, and understand how deposits and interest are treated, especially if annual limits are exceeded.
NRIs with tax-exempt Indian income like NRE/FCNR interest or PPF are still taxed in the US by the IRS. Such income must be reported on US tax returns (Form 1040) and accounts reported under FATCA/FBAR if thresholds are met. Inheritance in India is tax-free, but capital gains tax applies upon selling inherited assets.
NRIs with tax-exempt Indian income like NRE/FCNR interest or PPF are still taxed in the US. Experts advise reporting this income and accounts (FATCA/FBAR) to the IRS. Inheritance in India is tax-free, but capital gains tax applies upon selling inherited assets.
EPFO is launching E-PRAAPTI, a digital portal enabling members to find, track, link and activate old or inactive EPF accounts using Aadhaar-based authentication. The portal targets employees who worked before the Universal Account Number system and may have multiple employer accounts without UAN linkage. Labour and Employment Minister Mansukh Mandaviya announced the initiative, which will initially benefit members who can recall their member IDs.
