EPFO settles 52 lakh COVID-19 advance claims, releases Rs 13,300 crore

The Labour Minister Santosh Gangwar said on Wednesday that Employees' Provident Fund Organisation (EPFO) has settled 52 lakh COVID-19 non-refundable advance claims, and disbursed Rs 13,300 crore so far.

When the lockdown was imposed in March, the government allowed over 6 crore subscribers of EPFO to withdraw an amount not exceeding their three months basic pay and dearness allowance from their EPF account, to support them during the three-month nationwide lockdown.

Gangwar while speaking at the Assocham Foundation Week programme, said EPFO has settled 52 lakh COVID-19 withdrawal claims and disbursed Rs 13,300 crore to subscribers during the pandemic.

He also added that the country has faced the pandemic with a brave face.

The Centre introduced the Pradhan Mantri Garib Kalyan Yojana (PMGKY) on March 26 to provide aid to the economically weaker sections in view of the pandemic.

The government announced a provision for withdrawal from the EPF Scheme, providing for non-refundable withdrawal to the extent of basic wages and DA for three months or up to 75 percent of the amount standing to member's credit in the EPF account, whichever is less.

He also asked the industry representatives to provide their feedback on the draft rules of three labour codes on industrial relations, social security and occupational health, safety & working conditions.

These three codes were passed in the monsoon session of Parliament this year. The labour code on wage was passed by Parliament in 2019.