Business Standard

COVID-19: Govt relaxes EPF withdrawal rules


ANI General News
In the wake of coronavirus outbreak, the Central government has notified amendment to the Employees Provident Funds (EPF) Scheme to allow withdrawal of non-refundable advance by the members.
The EPFO has directed its field offices to promptly process any applications for withdrawal so that relief reaches the worker and his family to help them fight with COVID-19.
The notification GSR 225(E) amends the EPF Scheme 1952 to allow the withdrawal of non-refundable advance by EPF members in the wake of COVID-19 pandemic in the country.
It also permits withdrawal not exceeding the basic wages and dearness allowance for three months or up to 75 per cent of the amount standing to member's credit in the EPF account in the event of a pandemic.
"COVID-19 has been declared a pandemic by appropriate authorities for the entire country 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," the notice read.
"A sub-para(3) under para 68L has been inserted in the EPF scheme, 1952. The amended scheme Employees Provident Fund (Amendment) scheme, 2020, has come into force from March 28, 2020."
Following the notification, the EPFO has issued directions to its field offices for promptly processing any applications received from EPF members to help them fight the situation.
In its communication, the organisation 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.

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First Published: Mar 29 2020 | 2:12 PM IST

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