Ministry of Labour and Employment has amended the EPF Scheme 1952. It allows withdrawal of non-refundable advance by EPF members in the wake of COVID-19 pandemic in the country.
About:
The notification permits withdrawal not exceeding the basic wages and dearness allowance for three months or upto 75 per cent of the amount standing to member's credit in the EPF account in the event of outbreak of epidemic or pandemic.
COVID-19 has been declared pandemic by appropriate authorities for the entire country and therefore 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.
A sub-para(3) under para 68L has been inserted in the EPF scheme,1952.
The amended scheme Employees Provident Fund (Amendment) scheme, 2020 has come into force from 28th March, 2020.
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