Firms with own PF trusts await clarity on second COVID advance
The Hindu
They say there is no official notification or circular from the EPFO on the issue
Three weeks after the government announced that Employees’ Provident Fund (EPF) members can take a , companies managing their own EPF trusts are reluctant to process requests from employees who have sought the advance. Over 76 lakh COVID-19 advance claims worth ₹18,698 crore were cleared since the special withdrawal provisions to cope with the pandemic were introduced in March 2020. EPF members were permitted to make non-refundable withdrawals to the extent of basic wages and dearness allowances for three months, or up to 75% of their EPF balance, whichever is less. On May 31, the Union Labour and Employment Ministry said a second such advance was being allowed ‘considering the urgent need of members for financial support in these trying times’, referring to the second COVID-19 wave as well as the emergence of the ‘mucormycosis’ or ‘black fungus’ epidemic.
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