EPFO settles 52 lakh COVID-19 claims, disburses Rs 13,300 cr, says Santosh Gangwar

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December 16, 2020 2:21 PM

In March, the government had allowed over 6 crore subscribes of EPFO to withdraw an amount not exceeding their three months basic pay and dearness allowance from their EPF account in view of the lockdown to fight the pandemic.

The directive came following the finance ministry ratification of the interest rate by EPFO’s highest decision-making body Central Board of Trustees (CBT), which it approved in March this year.The directive came following the finance ministry ratification of the interest rate by EPFO’s highest decision-making body Central Board of Trustees (CBT), which it approved in March this year.

Retirement fund body EPFO has settled 52 lakh COVID-19 non-refundable advance claims, and disbursed Rs 13,300 crore so far, Labour Minister Santosh Gangwar said on Wednesday.

In March, the government had allowed over 6 crore subscribes of EPFO to withdraw an amount not exceeding their three months basic pay and dearness allowance from their EPF account in view of the lockdown to fight the pandemic.

Speaking at Assocham Foundation Week programme, Gangwar said EPFO has settled 52 lakh COVID-19 withdrawal claims and disbursed Rs 13,300 crore to subscribers during the pandemic. He noted that the country has faced the pandemic with brave face.

The Centre had launched the Pradhan Mantri Garib Kalyan Yojana (PMGKY) on March 26 to help the economically weaker sections cope with the pandemic.

A provision for withdrawal from the EPF Scheme was announced by the government and an urgent notification issued, providing for non-refundable withdrawal to the extent of basic wages and DA for three months or up to 75 per cent of the amount standing to member’s credit in the EPF account, whichever is less.

On the implementation of labour codes, he asked the industry representatives to provide their feedback on the draft rules of three labour codes on industrial relations, social security and occupational health safety & working conditions.

The ministry has circulated the draft rules on these labour codes to seek feedback of stakeholders. These three codes were passed in monsoon session of Parliament this year.

The labour code on wage was passed by Parliament in 2019. The rules on that have already firmed up. The government intends to implement all the four codes in one go from April 1, 2021.

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