Subscribers to the Employees’ Provident Fund Organisation (EPFO) can now avail a second non-refundable Covid-19 advance to the extent of three months’ wages (basic plus DA) or up to 75% of the amount standing to member’s credit in the EPF account, whichever is less.
The special withdrawal provision, aimed at meeting the financial need of members during a pandemic, was first introduced in March last year, under Pradhan Mantri Garib Kalyan Yojana (PMGKY). Such claims will be settled with three days of receipt.
As of date, EPFO has settled more than 76.31 lakh Covid-19 advance claims, disbursing a total of Rs 18,698.15 crore, the labour ministry said Monday.
“During the second wave of Covid-19 pandemic, ‘mucormycosis’ or black fungus has been declared an epidemic recently. In such trying times, EPFO endeavours to lend a helping hand to its members by meeting their financial needs. Members who have already availed the first Covid-19 advance can now opt for a second advance also,” it said.
Considering the urgent need of members for financial support in these trying times, it has been decided to accord top priority to Covid-19 claims, the ministry said.
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