NEW DELHI: The gvernment on Monday acknowledged participants of Workers’ Provident Fund Organisation EPFO were permitted to withdraw a second non-refundable Covid-19 arrive from the pension fund in the light of the financial impression of the second wave of coronavirus.
A provision for particular withdrawal of EPFO funds turned into as soon as launched by the authorities in March remaining year under the PM Garib Kalyan Yojana (PMGKY). The plot, geared toward helping group tide over the pandemic-induced monetary difficulties, had allowed non-refundable withdrawal of funds to the extent of general wages and dearness allowances for 3 months, or as a lot as 75% of the amount standing to member’s credit ranking in the EPF story.
Labour ministry sources acknowledged the Covid-19 arrive facility has been availed by on the discipline of 76.31 lakh candidates and an arrive of Rs 18,698.15 crore turned into as soon as released.
The authorities acknowledged participants who accept already availed the first Covid-19 arrive will furthermore be permitted to select for a second arrive and the job for withdrawal could presumably possibly possibly be the the same.
The ministry furthermore acknowledged that it has accorded top priority to Covid-19 claims and EPFO has been directed to resolve all Covid-19 associated claims and requests for arrive within three days of the receipt of such claims.
To facilitate suggested settlement, EPFO has furthermore deployed a machine pushed auto-explain settlement job in respect of all participants whose KYC requirements is complete in all respects. Auto-mode of settlement, the authorities acknowledged, has enabled EPFO to chop the explain settlement cycle to 3 days as against the statutory requirement to resolve the claims within 20 days.