 "EPFO, PF, Provident fund, savings")
Union cabinet may give post facto approval to the proposal of Employee Provident Fund contribution by the government announced under PM Garib Kalyan Yojana by Finance Minister Nirmala Sitharaman on March 26.
Official sources said that the cabinet approval is required to implement the proposal as it is expected to require additional budgetary allocation of around Rs 4,960 crore during the current year.
Moreover, the proposal to allow subscribers to withdraw 75 per cent of their EPF contribution or three months wages whichever is lower as contingency expenditure non-refundable advance would need an amendment to EPFO regulation.
The cabinet is scheduled to meet
