Workers facing financial stress can withdraw 75% from EPF corpus: Know how
Finance Minister
Nirmala Sitharaman on March 26 announced Rs 1.7 trillion stimulus package to
provide relief to the underprivileged, poor and migrant workers affected by a
21-day nationwide lockdown due to Covid-19 crisis. Among several other benefits, the FM also announced
amendment in the EPFO regulation to allow employees withdraw up to 75 per cent
of their corpus as non-refundable advance, or three months' basic salary,
whichever is less.
Now, the Employee
Provident Fund Organisation (EPFO) has started taking withdrawal requests, and
has also issued a circular on the frequently asked questions.
Have a question? Here are the FAQs answered:
Who is eligible for the advance from EPF to
fight Covid-19 Pandemic?
Any member of EPF
Scheme, 1952 with UAN (Universal account number) employed in any establishment
or factory covered under EPF & MP Act, 1952. Read More
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