New Delhi, April 22 (Agencies): As the country entered the second day of the 21-day lockdown in the wake of the COVID-19 pandemic, finance minister Nirmala Sitharaman on Thursday announced an economic relief package that lays out various schemes to provide cash and free ration. The government also relaxed the rules for withdrawal of funds from the Employees’ Provident Fund (EPF) account.
The provision for a special withdrawal from the EPF Scheme to tide over the COVID-19 pandemic is part of the PMGKY Scheme announced by Government and an urgent notification introduced Para 68 L (3) in the EPF Scheme for this purpose, on March 28.
Under this provision non-refundable withdrawal to the extent of the basic wages and dearness allowances for three months or upto 75% of the amount standing to the member’s credit in the EPF account, whichever is less, is provided. The member can apply for lesser amount also.
The exempted PF trusts have also risen to the occasion amidst the COVID-19 pandemic. As on the forenoon of 17.04.2020, Rs. 481.63 crores (Rs. 481,63,76,714) have been disbursed to 40,826 PF Members as advance under para 68-L for COVID-19 by the exempted PF Trusts.
Top 10 exempted establishments
Some of the exempted establishments have also done exemplary work in this regard. As on 17.04.2020, the top 10 exempted establishments in terms of the amount disbursed for COVID-19 claims, are given below:
