Subscribers to the Staff’ Provident Fund Organisation (EPFO) can now avail a second non-refundable Covid-19 advance to the extent of three months’ wages (fundamental plus DA) or as much as 75% of the quantity standing to member’s credit score within the EPF account, whichever is much less.
The particular withdrawal provision, geared toward assembly the monetary want of members throughout a pandemic, was first launched in March final yr, below Pradhan Mantri Garib Kalyan Yojana (PMGKY). Such claims might be settled with three days of receipt.
As of date, EPFO has settled greater than 76.31 lakh Covid-19 advance claims, disbursing a complete of Rs 18,698.15 crore, the labour ministry stated Monday.
“In the course of the second wave of Covid-19 pandemic, ‘mucormycosis’ or black fungus has been declared an epidemic just lately. In such making an attempt instances, EPFO endeavours to lend a serving to hand to its members by assembly their monetary wants. Members who’ve already availed the primary Covid-19 advance can now go for a second advance additionally,” it stated.
Contemplating the pressing want of members for monetary help in these making an attempt instances, it has been determined to accord high precedence to Covid-19 claims, the ministry stated.