46 Lakh COVID-19 Related PF Claims Worth Rs 920 Crore Cleared

On Friday, the Employees' Provident Fund Organisation (EPFO) said that it has settled 46 lakh EPF (Employees' Provident Fund) withdrawal claims and disbursed Rs 920 crore to subscribers to meet their exigencies due to the COVID-19 situation.

In March, as part of the COVID-19 relief, under the Pradhan Mantri Garib Kalyan Yojna (PMGKY), the government had allowed a one-time provision of non-refundable advance for EPF subscribers.

Members can use this facility to withdraw three months' basic wages (basic pay plus dearness allowance) or half of the total accumulation in his or her Employees' Provident Fund (EPF) account, whichever is less for meeting exigencies due to the COVID-19 situation.

Furthering the cause of social protection, the EPFO has processed around 46 lakh claims amounting to about Rs 920 crore since the COVID-19 outbreak, Employees' Provident Fund Organisation (EPFO) said in a statement.

To process COVID-19-related claims, the EPFO had set a target of three working days for speedy financial assistance to the workers in distress.

The Citizens' Charter of the EPFO aims for processing of claims within three days while the mandate is of 20 days.

The Retirment Fund body also said that the practice of posting performance on social media has acted as an in-house catalyst towards energising a participative work culture, promoting accountability and transparency proactively.