EPFO employees to contribute Rs 2.5 crore to PM-CARES Fund
May 03, 2020
New Delhi [India], May 3 : The employees of Employees Provident Fund Organization (EPFO) have come forward to support the Centre's initiative in combating COVID-19 pandemic by voluntarily contributing one day's salary amounting to around Rs 2.5 crore to the PM-CARES Fund.
"Employees of EPFO have decided to contribute one day's salary to the PM-CARES Fund. The total contribution from the employees is amounting to Rs 2.5 crore," according to the Ministry of Labour and Employment.
The EPFO has played a crucial role during the COVID-19 crisis. As of April 27, the organization, which comes under the Union Ministry of Labour and Employment, had settled a total of 12.91 lakh claims, including 7.40 lakh COVID-19 claims under Pradhan Mantri Garib Kalyan Yojana (PMGKY) package.
This involves disbursal of a total amount of Rs 4684.52 crore which includes Rs 2367.65 crore COVID claims under the PMGKY package.
The provision for a special withdrawal from the EPF Scheme to fight COVID-19 pandemic is part of the PMGKY scheme announced by the government and an urgent notification on the matter was made to introduce a para 68 L (3) of the EPF Scheme on March 28.
Under this provision, non-refundable withdrawal to the extent of the basic wages and dearness allowances for three months or up to 75 per cent of the amount standing to member's credit in the EPF account, whichever is less, is provided.
