EPFO delayed retiree’s Rs 14.06 lakh PF claim by 35 days; court orders 6% interest

Your provident fund savings are your retirement corpus. In one case of what the consumer court saw as a delay in disbursal of claim amount, retiree has been awarded a 6% interest payment on the claim amount.A consumer court has ordered the Employees' Provident Fund Organisation (EPFO) to pay 6 per cent annual interest to a retired employee after finding a 35-day delay in the settlement of his provident fund claim worth more than Rs 14 lakh.What the EPFO claim settlement delay case is aboutThe Mumbai Suburban District Consumer Disputes Redressal Commission, in an order issued last week, held the statutory organisation responsible for deficiency in service, observing that the claim should have been settled within the stipulated 20-day period under the EPF Scheme, 1952.The complainant, who had earlier worked with Fleet Maritime Services (India) Pvt Ltd, told the commission that he had submitted a complete PF claim on October…