Provident Fund Body Allows Members To Withdraw Wages In Advance Amid Covid

Till date, EPFO has settled more than 76.31 lakh Covid-19 advance claims thereby disbursing a total of Rs18,698.15 crore.

The Employees' Provident Fund Organisation (EPFO) has allowed its members to avail the second non-refundable Covid-19 advance, a measure which has been announced keeping in view the raging second wave of the pandemic, which has especially turned out to be a devastating one for the country. The provision for special withdrawal to meet the financial need of members during the pandemic was introduced in March 2020, under Pradhan Mantri Garib Kalyan Yojana (PMGKY). An amendment to this effect was made by Ministry of Labour & Employment in Employees' Provident Funds Scheme, 1952 by inserting a provision, under which non-refundable withdrawal to the extent of the basic wages and dearness allowances for three months or up to 75 per cent of the amount standing to member's credit in the EPF account, whichever is less, is provided. Members can apply for lesser amount also, according to the rules.