Ministry also seeks feedback on labour codes from industry
Labour Minister Santosh Gangwar on Wednesday claimed that Employees Provident Fund Organisation (EPFO) settled 52 lakh Covid-19 non-refundable advance claims, and disbursed ₹13,300 crore.
“The country has faced the pandemic with brave face,” Gangwar said while speaking during industry body Assocham’s Foundation Week event. Keeping this in mind the government had allowed over six crore subscribes of EPFO to withdraw an amount not exceeding their three months basic pay and dearness allowance from their EPF account in view of the lockdown to fight the pandemic.
The Centre had launched the Pradhan Mantri Garib Kalyan Yojana (PMGKY) on March 26 to help the economically weaker sections cope with the pandemic. A provision for withdrawal from the EPF scheme was announced by the government and an urgent notification issued, providing for non-refundable withdrawal to the extent of basic wages and DA for three months or up to
Updated Dec 16, 2020 | 17:58 IST
In March, Centre had allowed over 6 crore subscribers of EPFO to withdraw an amount not exceeding their three months basic pay and dearness allowance from their EPF account in view of Coronavirus crisis EPFO settles 52 lakh Covid PF advance claims, disburses Rs 13,300 crore, says Santosh Gangwar
New Delhi: Labour Minister Santosh Gangwar said on Wednesday that Employees Provident Fund Organisation (EPFO) has settled 52 lakh COVID-19 non-refundable advance claims, and disbursed Rs 13,300 crore so far.
In March, Centre had allowed over 6 crore subscribers of EPFO to withdraw an amount not exceeding their three months basic pay and dearness allowance from their EPF account in view of the nationwide lockdown to contain Covid-19 spread in the country.
Prime Minister Narendra Modi will address captains of the industry at an Assocham Foundation Week programme on December 19 based on the theme India s resilience: Atmanirbhar roadmap towards USD 5 trillion economy , a statement said. Assocham will also call upon the Prime Minister of India to share his perspective about Indian and global economies with Indian industry, the chamber said. The week-long programme beginning on Tuesday has been broken down into sub-themes such as transforming Indian agriculture and the food value chain, to be addressed by Agriculture Minister Narendra Singh Tomar; and India becoming a global manufacturing hub, to be addressed by Commerce and Industry Minister Piyush Goyal.
Highlights
Amendments in wake of COVID-19 crisis.
EPFO members were allowed to apply for withdrawal online.
New Delhi: Retirement fund body EPFO is likely to credit 8.5 percent rate of interest for 2019-20 in the employees provident fund (EPF) accounts of around six crore subscribers in one go by the end of December, news agency PTI has reported.
Earlier in September this year, the Employees Provident Fund Organisation had decided to split 8.5 percent interest into two installments of 8.15 percent and 0.35 percent in its trustees meet headed by Labour Minister Santosh Gangwar.
However, PTI quoting highly placed source said that the Labour Ministry has sent a proposal to the Finance Ministry to give concurrence to credit 8.5 percent rate of interest on EPF for 2019-20 earlier this month.
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