Rs 877 cr lying unclaimed in EPF;money cannot be used otherwise

New Delhi, Aug 2 (UNI) A huge amount of Rs 877.76 crore is lying in the Unclaimed Deposit Account of the Employees' Provident Fund (EPF) Scheme and the government cannot make any other use of this money excepting find the rightful claimants.

''The amount lying in the Unclaimed Deposit Account cannot be used for any purpose other than for payment to be made to the righful claimant/legal heir/nominee'', Minister of State for Labour and Employment Chandra Sekhar Sahu said in a written reply in the Rajya Sabha.

The custodian of the unclaimed amount is the Central Board of Trustees, EPF. The Minister said the Government makes regular efforts to trace the whereabouts of the beneficiaries through advertisments in newspapers, trade unions and employers.

UNI PC RP RN1454