EPF withdrawals at Rs 39,400 crore since March

By: |
September 15, 2020 2:00 AM

Subscribers belonging to Maharashtra had withdrawn the maximum at Rs 7, 838 crore followed by Karnataka at Rs 5,744 crore and Tamil Nadu (including Puduchery) at Rs 4,985 crore, labour minister Santosh Gangwar said answering to a written question.

In a separate question, the minister said of the total 1,04,05,051 claims raised with the EPFO, 81,91,735 were from low-wage earners, earning less than Rs 15,000 a month.

Subscribers to the Employees’ Provident Fund Organisation (EPFO) have withdrawn Rs 39,400 crore since the nation-wide lockdown was imposed on March 25 to contain the spread of coronavirus till August 30, Parliament was informed on Monday.

Subscribers belonging to Maharashtra had withdrawn the maximum at Rs 7, 838 crore followed by Karnataka at Rs 5,744 crore and Tamil Nadu (including Puduchery) at Rs 4,985 crore, labour minister Santosh Gangwar said answering to a written question.

In a separate question, the minister said of the total 1,04,05,051 claims raised with the EPFO, 81,91,735 were from low-wage earners, earning less than Rs 15,000 a month.

The minister said in order to ameliorate the hardships faced by the labourers due to economic disruption caused by Covid, the labour and employment ministry, as part of the Pradhan Mantri Garib Kalyan Yojana (PMGKY) and Atmanirbhar Bharat, took various measures that include non-refundable Covid advance from the EPF by amending the EPF Scheme, 1952.

Under the scheme, non-refundable advances were provided to EPF members not exceeding the basic wages and dearness allowances for three months or up to 75% of the amount in the members’ EPF account, whichever is less.

Also the Centre paid both the employers and employees’ total 24% share of contribution for six wage months from March to August 2020 for all establishments having up to 100 employees with 90% of such employees earning a monthly wage of less than Rs 15,000, among others.

To a question, the minister said government has taken various steps for generating employment such as fast tracking of various projects involving substantial investment and encouraging public expenditure on schemes such as the Prime Minister Employment Generation programme, Mahatma Gandhi National Rural Employment Guarantee Scheme, among others.

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