Rs 481.63 Crore disbursed to 40,826 members by exempted PF trusts under PMGKY
- IBEF
- April 22, 2020
The provision for a special withdrawal from the EPF Scheme to tide over the COVID -19 pandemic is part of the Pradhan Mantri Gareeb Kalyan Yojna (PMGKY) Scheme announced by Government and an urgent notification introduced Para 68 L (3) in the EPF Scheme for this purpose, on 28th March 2020. Under this provision non- refundable withdrawal to the extent of the basic wages and dearness allowances for three months or upto 75 per cent of the amount standing to the member’s credit in the EPF account, whichever is less, is provided. The member can apply for lesser amount also.
It is heartening to report that the exempted PF trusts have also risen to the occasion amidst the COVID-19 pandemic. As on the forenoon of 17.04.2020, Rs 481.63 crore (US$ 68.91 million) have been disbursed to 40,826 PF Members as advance under para 68-L for COVID-19 by the exempted PF Trusts.
Top 10 exempted establishments:
Some of the exempted establishments have also done exemplary work in this regard. As on 17.04.2020, the top 10 exempted establishments in terms of the amount disbursed for COVID-19 claims, are given below:
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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