EPFO settles 137,000 withdrawal claims to ease Covid-19 lockdown woes
Retirement fund body EPFO on Friday said it has settled 137,000 provident fund withdrawal claims worth Rs 280 crore to provide relief to subscribers during the lockdown. " Employees Provident Fund Organisation (EPFO) has processed about 137,000 claims across the country disbursing an amount of Rs 279.65 crore under a new provision especially formulated by amending the EPF Scheme to help subscribers fight Covid-19," a labour ministry statement said. According to the statement, remittances have already started taking place. EPFO has settled these claims in the past 10 days. The system as it stands today is processing all applications which are fully KYC (know your customer) compliant within less than 72 hours. Read More