National News

Govt relaxes EPF withdrawal rules amid COVID-19

New Delhi: The Union Labour and Employment Ministry has notified modification to the Workers’ Provident Funds (EPF) Scheme to permit withdrawal of non-refundable advance by the members within the occasion of COVID-19 pandemic.

The EPFO has directed its discipline workplaces to implement the modification.

The notification GSR 225(E) amends the EPF Scheme 1952 to permit the withdrawal of non-refundable advance by EPF members within the wake of COVID-19 pandemic within the nation.

The notification permits withdrawal not exceeding the fundamental wages and dearness allowance for 3 months or as much as 75 per cent of the quantity standing to member’s credit score within the EPF account within the occasion of pandemic.

The notification mentioned, “COVID-19 has been declared pandemic by applicable authorities for the whole nation and, due to this fact, workers working in institutions and factories throughout whole India, who’re members of the EPF Scheme, 1952, are eligible for the advantages of non-refundable advance.

“A sub-para(3) beneath para 68L has been inserted within the EPF scheme, 1952. The amended scheme Workers Provident Fund (Modification) scheme, 2020, has come into power from March 28, 2020.

EPF rules relaxations

EPF rules relaxations

Following the notification, the EPFO issued instructions to its discipline workplaces for promptly processing any functions acquired from the EPF members to assist them battle the state of affairs.

In its communication the EPFO has acknowledged that officers and employees should course of claims of the EPF subscribers promptly in order that aid reaches the employee and his household to assist them battle with COVID-19.

(IANS)

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