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