Left Menu
Development News Edition

Labour Min allows EPF withdrawal amid lockdown

PTI | New Delhi | Updated: 29-03-2020 17:23 IST | Created: 29-03-2020 17:23 IST
Labour Min allows EPF withdrawal amid lockdown

The labour ministry has allowed over 6 crore subscribes of retirement fund body EPFO to withdraw an amount not exceeding their three months basic pay and dearness allowance from their EPF account in view of the lockdown to fight COVID-19. Besides, Employees' Provident Fund Organisation (EPFO) also introduced online claim settlement facility without manual intervention on Saturday morning for all KYC complaint subscribers during the lockdown.

The ministry has issued a notification in this regard on March 28, 2020 to amend the Employees' Provident Fund Scheme 1952, a labour ministry statement said. The decision is taken in view of lockdown across the country to fight COVID-19.

The notification permitted non-refundable withdrawal not exceeding the basic wages and dearness allowance for three months or up to 75 per cent of the amount standing to the credit of their EPF account, which ever is less, the ministry said. The COVID-19 has been declared pandemic and therefore employees working in establishments and factories across entire India, who are members of the EPF Scheme, 1952 are eligible for the benefits of non-refundable advance.

A sub-para (3) under para 68L has been inserted in the EPF scheme, 1952. The amended Employees Provident Fund (Amendment) scheme, 2020 has come into force from March 28.

Following the notification, EPFO has issued directions to its field offices for promptly processing any applications received from members to help them fight the situation. In its communication, EPFO has stated that officers and staff must process claims of EPF subscribers promptly so that relief reaches the worker and his family to help them fight with COVID-19.

"We are happy to inform that our online claim filing facility for Covid-19 withdrawals has been successfully launched at 11 am today (Saturday). IT (information technology) division of the EPFO has devised a system of auto settlement of claims through our centralized server in respect of all such members whose KYC (know your customer) data is fully updated and compliant. "It is going to be a paradigm shift in claim settlements that will be possible to settle within 3 days. This facility will stop manual intervention. The EPF claims will be settled fully online," an official said.


TRENDING

OPINION / BLOG / INTERVIEW

‘Discounted Deaths’ and COVID 19: Anthropology of Death and Emotions

Death is a social event rather than the mere cessation of biological functions. As seen by anthropologists, death is not just physical but intensely social, cultural, and political....

Indigenous knowledge of communities a must for maximizing impact of community work

Generally, it has been observed that the majority of the academicians in higher education institutions neglect the wisdom of community people and throw their weight around thinking that they know everything and the community knows nothing. ...

In rebuking FBR, Pakistan’s courts take a stand for public health

The system, if implemented effectively, will allow Pakistans revenue service to combat the illicit trade in tobacco products and potentially add hundreds of millions of dollars to the states budget each year. ...

Dissecting how COVID-19 is catalyzing the trajectory of New World Order

The ensuing pandemic of COVID-19 has hit the globalization in two ways firstly, shrinking the importance of globalization as an economic force by curtailing mobility through worldwide lockdowns, and secondly, rejuvenating the idea of indig...

Videos

Latest News

Four Minneapolis policemen fired after death of unarmed black man

Four Minneapolis police officers were fired on Tuesday, a day after a bystanders cell phone video captured one of them kneeling on the neck of an unarmed black man who later died in a hospital, the citys mayor said.A video of the Monday eve...

Soccer-Reading players accept wage deferrals to help soften COVID-19 blow

Readings first-team players have agreed to defer a substantial portion of their wages for three months to help negate the economic impact of the COVID-19 pandemic, the English Championship second-tier club said on Tuesday. Professional socc...

FaZe, Fnatic rally at DreamHack Masters Spring - Europe

FaZe Clan and Fnatic each rallied for dramatic 2-1 victories on Tuesday as Group C play continued at the DreamHack Masters Spring - Europe event. FaZe came back to down Team Spirit 1-1 and improve to 2-0, while Fnatic 1-1 bagged their first...

India to operate 11 more flights from US in 2nd phase of Vande Bharat Mission

India has decided to operate additional Air India non-scheduled commercial flights in the ongoing second phase of Vande Bharat Mission, from the United States to various cities in India, the Indian Embassy here said. According to the Embass...

Give Feedback