NEW DELHI :
Need some extra cash during the 21-day coronavirus lockdown? To help the salaried class tide over the economic crisis during the shutdown, the Employees’ Provident Fund Organisation (EPFO) has now made the highly-contagious pandemic another reason to allow subscribers withdraw funds.
The labour ministry issued a notification yesterday amending the EPF withdrawal rules in which all its 6 crore subscribers are allowed a non-refundable advance during the coronavirus pandemic. The withdrawal amount cannot be more than your basic salary and dearness allowance (DA) for three months or upto 75% of your PF account balance, whichever is lower.
“Please note that the COVID-19 has been declared a Pandemic by appropriate Government for the entire country and therefore the employees working in establishments and factories across entire India, who are members of the EPF Scheme, 1952, are eligible for the benefits of non-refundable advance under the…