Lawstreet Journal

EPFO settles 46 lakh COVID-19-related claims worth ₹920 crore

Lawstreet Journal 1 Sep 2020 9:03pm

Image courtesy: Lawstreet Journal Executive EPFO settles 46 lakh COVID-19-related claims worth ₹920 crore

The Employees' Provident Fund Organisation on Friday (August 28, 2020) said it has settled 46 lakh EPF withdrawal claims and disbursed Rs 920 crore to its subscribers to meet exigencies due to the Covid-19 situation. The government had made a provision Under Pradhan Mantri Garib Kalyan Yojna for a Covid-19 non-refundable advance facility. 

The scheme was started in April. Members can use this facility to withdraw three months' basic wages -- basic pay plus dearness allowance -- or half of the total accumulation in his or her Employees' Provident Fund account, whichever is less for meeting exigencies due to the Covid-19 situation. Furthering the cause of social protection, the EPFO has processed around 46 lakh claims amounting to about Rs 920 crore since the Covid-19 outbreak, Employees' Provident Fund Organisation said in a statement. 

To process COVID-19-related claims, the EPFO had set a target of three working days for speedy financial assistance to the workers in distress. "The EPFO Delhi West -- the 2nd largest claims recipient office in the country -- brought in innovation and some best work practices to ensure processing of all distress claims on day to day basis," Uttam Prakash, the Regional Provident Fund Commissioner, Delhi West, EPFO said in the statement. Further, Prakash said the Delhi West office has processed around one lakh Covid-19 claims to date amounting to Rs 155 crore.

"Besides Aug. 27, 2020, marked the non-stop 125 days of 100% distress claim processing. This milestone is a reflection of the strength of team spirit and… Continue Reading...

Tagged: Employees Provident Fund Organisation   EPFO  
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