[ad_1]
The Employees’ Provident Fund Organisation (EPFO) has settled 149.31 lakh settlement and advance claims throughout April-October amounting to Rs 55,900.88 crore.
Of this, 47.58 lakh had been Covid-19 advance claims worth Rs 12,220.26 crore, a letter despatched by EPFO to its Central Board of Trustees on Friday confirmed. Exempted institutions have settled 3,89,178 Covid-19 advance claims, disbursing Rs 3,782.83 crore to its members, the letter acknowledged.
In the wake of the pandemic, the federal government had in March introduced a web based facility to permit withdrawal not exceeding the essential wages and dearness allowances for 3 months or as much as 75 per cent of the quantity standing to a member’s credit score within the EPF account, whichever is much less.
The scheme permitting advance withdrawal was notified on March 27 and the web facility launched on March 29.
The earlier withdrawal situations allowed subscribers to take non-refundable advance or withdraw cash earlier than retirement for specified functions, akin to a medical emergency, marriage, larger training or buy of a home, and so on. Moreover, subscribers who’ve been unemployed for greater than a month can withdraw as much as 75 per cent of their stability.
The Covid-19 pandemic and subsequent lockdowns throughout the nation had adversely affected the enrolments underneath the EPFO throughout the first quarter, the letter acknowledged, including that the provisional figures of subscribers for July and August point out a gradual restoration to pre-Covid ranges.
© The Indian Express (P) Ltd
[ad_2]
Source hyperlink