Thank you for talking about this. This statement by the ex-FM is spot on "both EPF and ESI have hostages rather than clients". Sadly nothing has changed. Furthermore, both employees and employers are held hostage. The online platform is unreliable.- with no redressal. Totalitarianism is the default setting- they have deactivated accounts with lakhs deposited over the years of my cousin's employee saying Aadhar could not be linked before the deadline. In Kerala, a poor man went and committed suicide inside the Provident Fund Office. The PF was then released and given to the next of kin. Officers harass small business owners already struggling to find labor on their plantations. Workers who come for work will NEVER agree to PF deduction because they know they will never see the money again.
Your deep concern and first hand experience of near and dear one loosing money and suffering emotional trauma is paramount testimony to the gravity of the situation. However, neither the people NOR the Government is willing to explore the means and mechanisms to release and disburse this huge amount. The GOVERNEMENT, simply does NOT have any intention or interest in the people of India except to the extent of freebies to buy the voters. Sad as it is, the people too! Specially the common man and middle class people are too fed up and frustrated with the RED TAPEISM, CORRUPTIONS, BEUREAUCRATIC HOOLIGANISM COUPLED BY COMPLEX, COMPLICATED AND COMBURSOME CLAIM PROCESSES. SAD AS IT IS, THIS PEOPLE'S MONEY NEVER BELONGED TO PEOPLE ONCE IT GOES INTO GOVERNMENT COFFINS ⚰️ 😕 😢. NO VOLUME OF SHOUTING AND SHAKING THIS DEAD CLASS WILL EVER CREATE ANY REVULATION EVEN IF IT MEANS FIGHTING FOR THEIR OWN LIFE LONG HARD EARNED MONEY. People simply has no faith in any system or process or redressel agencies, government regulatory agencies or any judicial process. 😢😢😮😮
Many of the amounts classified as unclaimed in EPF withdrawals are wrongly labeled. Even valid claims get rejected for absurd reasons. In my case, the claim was denied with reasons such as "delay in submission," "inoperative account," and requests to upload passport -despite there being no option to upload these documents during the submission process. Additionally, my KYC already includes passport details. They also claimed my bank account was linked to multiple UANs, though this wasn't the case. The system seems designed to intentionally create hurdles, forcing us to waste time and productivity while trying to access our own money.
Definitely. But it wud help if you cud find a way to make it easy for us to get our money. It is practically impossible to get our money, as you are well aware. The search engines are hopeless. If even 3-4 testimonies of successful refunds are published here, there will be a rush of people to this channel & any other place you direct. Awareness of our unclaimed money is one thing. A person/persons who have successfully managed to get the refunds is another. We are so used to being cheated & looted in this country that for our own sanity, we disregard such information.
Madam, it is very difficult for individual volunteers to help the people whose money is stuck with any of these institutions. The banks say that they send regular notices to deposit holders of dormant, derlict accounts. On the other side are deposit holders to fearful of third parties either scamming them or charging very high fees. I would request your organization to take up this work for reasonable fees where we could work as panelists on real cases. Thank you for highlighting this problem.
Govt has no intention of returning this money. This attitude speaks a lot for itself, someone should drag the Govt. to the court and get all of poor people's funds released to their rightful owners.
EPF harasses illiterate small people. A retired lady from our company is deprived of pension for last ten years just because her name differs in adhar card. We are frustrated. It is Panaji PF office.
Your information very helpful ..we senior citizens find it very difficult to comply with the sebi rules.to make matters worse the agents who are very keen to invest disappear after investing no assistance at all. Thanks
Thank you for brining this topic up. would appreciate to bring up the topic of IEPF. Where equity claims are being left unattended, unanswered and stretching to over years.
@Sucheta madam, my EPF is also stuck, as I'm not able to login and close it. Despite filling all the required forms, I keep getting responses that your signature is not matching or some such absurd excuses. I tried to approach an agent, but even they couldn't help. How do I proceed? I'm over 60 and need the money, which should have come to me, as I have earned it. By the way, the other day, I saw you at the RBYC at Colaba 😀
Sucheta, small senior citizen investors are also being deprived by our Demat accounts. Suddenly , some shares disappear from Demat without your being informed. In my case it was DHFL and Sirpur Paper. Should there be some information to the Investor ?
Not sure if there is any conspiracy here. My PF nominees data got deleted automatically and still I have not updated because it is a labourius process abd Aadhard cards format, size issues, bank accounts, etc., troubled me when i tried to add nominees.
In the year 1999, me and my Advocate, classmate, worked out 340... Cr approximately and were working out a a scheme pull out and aid the common people.. In the last video I pointed at, about my Dad's 40k; basing on our facts we friends discussed in tgeyear 1999. Love your information ma'am, have a wonderful time and take care. ❤
The supreme Court must take a suo motu cognizance of this neglect on the part of the government. The king appears to be the biggest robber of public money. Government is answerable for this utter inaction and neglect. This problem has to be sorted out state and district wise. That will be more manageable.
This money is not unclaimed. In fact people do claim it. But the sarkari baboos keep on asking random documents which are next to impossible to get. This is "adverse possession" or "Kabza" by govt employees who are looking for "Chai pani" !.
My PF from April 2010 to October 2012 is unclaimed. PF before 2010, I withdrew, PF after October 2012 is linked with UAN and all in 1 account. The company I worked between April 2010 to October 2012 no longer exists. How should I withdraw this amount?
One of my stocks and dividends (Nirlon) is now in IEPF. I don’t know how to get it back. There’s an online long process of form filling and that I tried in vain. There are agents who can help but charges are much more than the value of shares. Not worth it. Now I have hard copy of share certificate but can’t get dividends nor can I Demat them. All this has happened only because of a typo error done by Nirlon, they have typed my name as Deepak Vasat instead of Vasant. Funny situation though.
I have 5 lakhs stuck with ABHOYDAYA CO OPERATIVE BANK MUMBAI , despite a court order I am not getting my money .Corrupt Co operative Bankers !! In fact the Legal heads of these Banks ENSURE we dont get our Money . Are we better off Gambling money in a CASINO ??
Dear Madam, The money belongs to poor temporary labour who are covered by EPF and ESI. They are poorest of poor. It is not "our money" - because who are "Our" according to you? The only solution is amend the EPF and ESI Acts, to increase the limits from 20 to 50. If this is not done, then problem will not get solves in my lifetime and your lifetime.
The banks are making their own rules and many of my friends and family members are not allowed to claim their parents bank accounts after death of parents. Even the lockers are not accessible. They say get order from court and no one knows the real formalities. Can you plz help in terms of what needs to be done here?
Madam Where these unclaimed funds are deployed.?. How the individuals can find out whether their funds are locked up like unclaimed shares/ dividends / Bank deposits etc . What are the present provisions in this regard to be followed by Banks/ corporate entities/ govt authorities. Etc? You should have just touched upon this as a service to such sufferers.you have highlighted only the huge amounts involved. Whom to approach?
NCRWC - National Commission to Review the Workings of the Constitution Vigyan Bhawan, New Delhi. A Consultation Paper* on PROBITY IN GOVERNANCE dated 21. Aug 2001 Advisory Panel, Member in-charge, Chairperson, Members & Member Secretary are there i guess. MALVERSATION related checks and balances measures should also be included in the robost system well in advance before implementation of such Intergrated systems. By this way lots of highly organised & technically advanced serious small and large scale white collor related financial fraud and crimes can be deterred thereby reducing the stress to the Citizens their legal heirs and to the Courts as we are progressing and relying more amd more on Ditigal Governance, banking and payment systems etc.
Msdam why dont you help the citizens in filing pil in court let us fight out they close demat aacounts without any reason aadhaar has become more of a. Ottle neck around citizenz neck give us solution also na
It's not like unclaimed truly My father passed away back in 2008 and that time nominee declaration wasn't compulsory As result we are still running pillar to post for which is naturally my mother's. PFs, salary account, Mutual funds, stocks The cumbersome and exasperating beauracracy is the real reason for this mess. I have sacrificed so much of my time and energy behind it
You need to explain it in layman's method because younger generation wont understand what exactly you are talking about ... Even a science student like me is unable to understand what is the root cause of the problem and what is the solution that you are suggesting
Lack of Financial knowledge in our education system play's significant role . THANKS for discussion ma'am
You're welcome! Please subscribe to our channel for more such content.
Thank you for talking about this. This statement by the ex-FM is spot on "both EPF and ESI have hostages rather than clients". Sadly nothing has changed. Furthermore, both employees and employers are held hostage. The online platform is unreliable.- with no redressal. Totalitarianism is the default setting- they have deactivated accounts with lakhs deposited over the years of my cousin's employee saying Aadhar could not be linked before the deadline. In Kerala, a poor man went and committed suicide inside the Provident Fund Office. The PF was then released and given to the next of kin. Officers harass small business owners already struggling to find labor on their plantations. Workers who come for work will NEVER agree to PF deduction because they know they will never see the money again.
Your deep concern and first hand experience of near and dear one loosing money and suffering emotional trauma is paramount testimony to the gravity of the situation. However, neither the people NOR the Government is willing to explore the means and mechanisms to release and disburse this huge amount. The GOVERNEMENT, simply does NOT have any intention or interest in the people of India except to the extent of freebies to buy the voters. Sad as it is, the people too! Specially the common man and middle class people are too fed up and frustrated with the RED TAPEISM, CORRUPTIONS, BEUREAUCRATIC HOOLIGANISM COUPLED BY COMPLEX, COMPLICATED AND COMBURSOME CLAIM PROCESSES. SAD AS IT IS, THIS PEOPLE'S MONEY NEVER BELONGED TO PEOPLE ONCE IT GOES INTO GOVERNMENT COFFINS ⚰️ 😕 😢. NO VOLUME OF SHOUTING AND SHAKING THIS DEAD CLASS WILL EVER CREATE ANY REVULATION EVEN IF IT MEANS FIGHTING FOR THEIR OWN LIFE LONG HARD EARNED MONEY. People simply has no faith in any system or process or redressel agencies, government regulatory agencies or any judicial process. 😢😢😮😮
Not even the railways benifits for senior citizens. Which is the worst part. Plz take up this issue on behalf of Senior citizen.
Many of the amounts classified as unclaimed in EPF withdrawals are wrongly labeled. Even valid claims get rejected for absurd reasons. In my case, the claim was denied with reasons such as "delay in submission," "inoperative account," and requests to upload passport -despite there being no option to upload these documents during the submission process. Additionally, my KYC already includes passport details. They also claimed my bank account was linked to multiple UANs, though this wasn't the case. The system seems designed to intentionally create hurdles, forcing us to waste time and productivity while trying to access our own money.
Excellent analysis and delivery. Returning funds will transform citizens lives. It will boost economy
Stealth tax on poor
Thank you for your continued efforts to reunite the rightful owners with their money. God bless!
Appreciate your kind words. Hope you would help in spreading the word about our channel and encourage others to subscribe as well!
Definitely. But it wud help if you cud find a way to make it easy for us to get our money. It is practically impossible to get our money, as you are well aware. The search engines are hopeless.
If even 3-4 testimonies of successful refunds are published here, there will be a rush of people to this channel & any other place you direct.
Awareness of our unclaimed money is one thing. A person/persons who have successfully managed to get the refunds is another. We are so used to being cheated & looted in this country that for our own sanity, we disregard such information.
Madam, it is very difficult for individual volunteers to help the people whose money is stuck with any of these institutions. The banks say that they send regular notices to deposit holders of dormant, derlict accounts. On the other side are deposit holders to fearful of third parties either scamming them or charging very high fees. I would request your organization to take up this work for reasonable fees where we could work as panelists on real cases. Thank you for highlighting this problem.
Govt has no intention of returning this money. This attitude speaks a lot for itself, someone should drag the Govt. to the court and get all of poor people's funds released to their rightful owners.
We have our waste FM Nirmala also to add to the fire
@@caldermendonca6291 Longest Serving FM's outcry currently - "How Dare you ask Question... Apologize" God Save our Nation....
EPF harasses illiterate small people. A retired lady from our company is deprived of pension for last ten years just because her name differs in adhar card. We are frustrated. It is Panaji PF office.
Thank you Madam for all your efforts and work.In a country like ours we need more objective and useful journalists like you.
Appreciate your kind words. Hope you would help in spreading the word about our channel and encourage others to subscribe as well!
How can an individual check if there is unclaimed funds if they are rightful heirs of a deceased parent etc? Is there a procedure?
Your information very helpful ..we senior citizens find it very difficult to comply with the sebi rules.to make matters worse the agents who are very keen to invest disappear after investing no assistance at all. Thanks
You're welcome! I'm glad you found the information helpful. Please subscribe to our channel for more such content
Thank you for brining this topic up. would appreciate to bring up the topic of IEPF. Where equity claims are being left unattended, unanswered and stretching to over years.
Thank you for your thoughtful feedback!. Your support means a lot to us! ..Please subscribe to our channel for more such content.
@Sucheta madam, my EPF is also stuck, as I'm not able to login and close it. Despite filling all the required forms, I keep getting responses that your signature is not matching or some such absurd excuses. I tried to approach an agent, but even they couldn't help. How do I proceed? I'm over 60 and need the money, which should have come to me, as I have earned it. By the way, the other day, I saw you at the RBYC at Colaba 😀
Sucheta, small senior citizen investors are also being deprived by our Demat accounts. Suddenly , some shares disappear from Demat without your being informed. In my case it was DHFL and Sirpur Paper.
Should there be some information to the Investor ?
Not sure if there is any conspiracy here. My PF nominees data got deleted automatically and still I have not updated because it is a labourius process abd Aadhard cards format, size issues, bank accounts, etc., troubled me when i tried to add nominees.
Thank you ma'am
You're welcome! I'm glad you found the information helpful. Please subscribe to our channel for more such content.
Every 3 years the funds should approach the holder to ensure life status of the holder and the heirs should be notified accordingly.
Very timely. I am suffering
Yes agitation is very much required but only later😢🥺
In the year 1999, me and my Advocate, classmate, worked out 340... Cr approximately and were working out a a scheme pull out and aid the common people..
In the last video I pointed at, about my Dad's 40k; basing on our facts we friends discussed in tgeyear 1999.
Love your information ma'am, have a wonderful time and take care. ❤
Idea. Every person who has pan card linked bank account. Transfer to it. But govt wont do this...
Thanks Madame
You're welcome! I'm glad you found the information helpful. Please subscribe to our channel for more such content.
Madam, kindly update on zombie delisted shares.
thanks
You're welcome! Please subscribe to our channel for more such content.
India is a banana republic. Better leave than sorry!
The supreme Court must take a suo motu cognizance of this neglect on the part of the government. The king appears to be the biggest robber of public money. Government is answerable for this utter inaction and neglect. This problem has to be sorted out state and district wise. That will be more manageable.
Please Research about NPS also
This money is not unclaimed. In fact people do claim it. But the sarkari baboos keep on asking random documents which are next to impossible to get. This is "adverse possession" or "Kabza" by govt employees who are looking for "Chai pani" !.
Because pathetic bureautic procedures by Post offices, Banks and LIC, money gets locked and can not claim after death of loved once.
The RBI must simply remove the DORMANT status of all these accounts. It will make lie easier for ordinary account holders.
Please make such important reports in Hindi Language, and in regional languages also.
My PF from April 2010 to October 2012 is unclaimed. PF before 2010, I withdrew, PF after October 2012 is linked with UAN and all in 1 account. The company I worked between April 2010 to October 2012 no longer exists. How should I withdraw this amount?
Rbi governor shatikanthdas says. We will give 100 days. Claim your money or else it will get inoperative. But how? They always get rejected..
These are savings schemes...Nowadays People transferring money to E commerce wallets.Dont know how much money unclaimed in those wallets
Even if uan number also not working for large number of members.
Can you share who can help a common man to claim his /her rightful claims
No solution. Political parties wont put this in manifesto
One of my stocks and dividends (Nirlon) is now in IEPF. I don’t know how to get it back. There’s an online long process of form filling and that I tried in vain. There are agents who can help but charges are much more than the value of shares. Not worth it. Now I have hard copy of share certificate but can’t get dividends nor can I Demat them. All this has happened only because of a typo error done by Nirlon, they have typed my name as Deepak Vasat instead of Vasant. Funny situation though.
An incompetent ans politically motivated CJI's are also the reason for sad state of affairs...
No intention of returning this money.
I have 5 lakhs stuck with ABHOYDAYA CO OPERATIVE BANK MUMBAI , despite a court order I am not getting my money .Corrupt Co operative Bankers !! In fact the Legal heads of these Banks ENSURE we dont get our Money . Are we better off Gambling money in a CASINO ??
Dear Madam, The money belongs to poor temporary labour who are covered by EPF and ESI. They are poorest of poor. It is not "our money" - because who are "Our" according to you? The only solution is amend the EPF and ESI Acts, to increase the limits from 20 to 50. If this is not done, then problem will not get solves in my lifetime and your lifetime.
The banks are making their own rules and many of my friends and family members are not allowed to claim their parents bank accounts after death of parents. Even the lockers are not accessible. They say get order from court and no one knows the real formalities. Can you plz help in terms of what needs to be done here?
Madam
Where these unclaimed funds are deployed.?. How the individuals can find out whether their funds are locked up like unclaimed shares/ dividends / Bank deposits etc . What are the present provisions in this regard to be followed by Banks/ corporate entities/ govt authorities. Etc? You should have just touched upon this as a service to such sufferers.you have highlighted only the huge amounts involved. Whom to approach?
Heard some big name posting there's organised private cos contacting people which asks % to get money laying with IPEF % Bribe to reclaim the amount
Government Makes Sure that it comes after 4 years to fund the cos they want 🤔
NCRWC - National Commission to Review the Workings of the Constitution Vigyan Bhawan, New Delhi. A Consultation Paper* on
PROBITY IN GOVERNANCE dated 21. Aug 2001 Advisory Panel, Member in-charge, Chairperson, Members & Member Secretary are there i guess. MALVERSATION related checks and balances measures should also be included in the robost system well in advance before implementation of such Intergrated systems. By this way lots of highly organised & technically advanced serious small and large scale white collor related financial fraud and crimes can be deterred thereby reducing the stress to the Citizens their legal heirs and to the Courts as we are progressing and relying more amd more on Ditigal Governance, banking and payment systems etc.
Sorry Ma'am we are busy playing politics۔
.001% is mine 😅
who will corner such a huge amt, if claimants are not found out. Definitely it will go in pockets of fat corporates for Vikas
Msdam why dont you help the citizens in filing pil in court let us fight out they close demat aacounts without any reason aadhaar has become more of a. Ottle neck around citizenz neck give us solution also na
It's not like unclaimed truly
My father passed away back in 2008 and that time nominee declaration wasn't compulsory
As result we are still running pillar to post for which is naturally my mother's. PFs, salary account, Mutual funds, stocks
The cumbersome and exasperating beauracracy is the real reason for this mess.
I have sacrificed so much of my time and energy behind it
You need to explain it in layman's method because younger generation wont understand what exactly you are talking about ... Even a science student like me is unable to understand what is the root cause of the problem and what is the solution that you are suggesting
@aasaanwill is one of the few companies trying to prevent this number from increasing even more