EPFO settles 4.6 million Covid-19-related claims worth Rs 920 crore

Retirement fund body EPFO on Friday said it has settled 4.6 million EPF withdrawal claims and disbursed Rs 920 crore to its subscribers to meet exigencies due to the Covid-19 situation

Retirement fund body EPFO on Friday said it has settled 46 lakh EPF withdrawal claims and disbursed Rs 920 crore to its subscribers to meet exigencies due to the COVID-19 situation.

Under Pradhan Mantri Garib Kalyan Yojna (PMGKY), the government had made a provision for a COVID-19 non-refundable advance facility. The scheme was started in April.

Members can use this facility to withdraw three months' basic wages -- basic pay plus dearness allowance -- or half of the total accumulation in his or her Employees' Provident Fund (EPF) account, whichever is less for meeting exigencies due to the COVID-19 situation.

Furthering the cause of social protection, the EPFO has processed around 46 lakh claims amounting to about Rs 920 crore since the COVID-19 outbreak, Employees' Provident Fund Organisation (EPFO) said in a statement.

To process COVID-19-related claims, the EPFO had set a target of three working days for speedy financial assistance to the workers in distress.

"The EPFO Delhi West -- the 2nd largest claims recipient office in the country -- brought in innovation and some best work practices to ensure processing of all distress claims on day to day basis," Uttam Prakash, the Regional Provident Fund Commissioner, Delhi West, EPFO said in the statement.

Further, Prakash said the Delhi West office has processed around one lakh COVID-19 claims till date amounting to Rs 155 crore.

"Besides 27th August, 2020 marked the non-stop 125 days of 100 per cent distress claim processing. This milestone is a reflection of strength of team spirit and commitment to public service delivery in the times of calling through an intensive stakeholder engagement," the statement said.

The Citizens' Charter of the EPFO aims for processing of claims within three days while the mandate is of 20 days.

Prakash also said that the practice of posting performance on social media has acted as an in-house catalyst towards energising a participative work culture, promoting accountability and transparency proactively.