EPFO brings some good news for its consumers during covid-19 pandemic. Now, the Union Labour & Employment Ministry 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 implement this amendment amid the outbreak of deadly virus.
According to 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 coronavirus pandemic in the country. However, the notification allows withdrawal not exceeding the basic wages & dearness allowance for 3 months or up to 75% of the amount standing to member's credit in the EPF account in the during the deadly virus pandemic.
Covid-19: EPF Scheme 1952
The notification states, "COVID-19 has been declared pandemic by appropriate authorities for the entire country. Thus, 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.”
It added, "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.”
As per the notification, the EPFO has issued directions to its field offices for promptly processing any applications received from the EPF members to help them fight the situation. In its communication, the EPFO has informed that officers & staff should process claims of the EPF subscribers promptly so that relief reaches the worker and his family to help them fight with this pandemic.
