Consumer court penalizes EPFO with 6% interest for delayed PF payout

A consumer forum has directed the EPFO to compensate a retired worker with 6% interest due to a 35-day delay in settling his provident fund claim of more than ₹14 lakh. The Mumbai-based commission noted that the EPFO did not meet the 20-day processing deadline mandated by the EPF Scheme, 1952. The commission dismissed the EPFO's claim that the delay was caused by incomplete documentation, as the organization failed to produce any evidence to support this.

by shortkt.com
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Consumer court penalizes EPFO with 6% interest for delayed PF payout | ShortKT