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COVID-19 : Centre Notifies EPF Scheme Amendment Permitting Non-Refundable Advance To Members [Read Notification]

LIVELAW NEWS NETWORK
29 March 2020 8:56 AM GMT
COVID-19 : Centre Notifies EPF Scheme Amendment Permitting Non-Refundable Advance To Members [Read Notification]
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The Union Ministry of Labour and Employment has notified an amendment to the EPF Scheme 1952 to allow withdrawal of non-refundable advance by EPF members/subscribers in the wake of COVID -19 pandemic in the country. The notification permits withdrawal of up to the amount of basic wages and dearness allowance for three months or upto 75% of the amount standing to member's credit in the EPF account, whichever is less, in the event of outbreak of epidemic or pandemic.

COVID-19 has been declared pandemic by appropriate authorities for the entire country and therefore employees working in establishments and factories across entire India, who are members of the EPF Scheme, 1952 are eligible for the benefits of non-refundable advance. A sub-para(3) under para 68L has been inserted in the EPF scheme,1952.The amended scheme Employees Provident Fund (Amendment) scheme,2020 has come into force from 28 March,2020.

Following the notification, EPFO has issued directions to its field offices for promptly processing any applications received from EPF members to help them fight the situation. In its communication EPFO has stated that officers and staff must process claims of EPF subscribers promptly so that relief reaches the worker and his family to help them fight with COVID-19.


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