Corona lockdown conditioned, 8.2 lakh employees withdraw money from PF for passing

The economic condition of the employees in the lockdown due to corona virus epidemic has worsened. So far, around 8.2 lakh employees have withdrawn money from their EPF account during this lockdown.

• Economic condition of employees worsened in lockdown due to corona virus epidemic
• Around 8.2 lakh employees have withdrawn money from their EPF account so far during the lockdown
• Around 8.2 lakh members withdraw Rs 3,243.17 crore for their passes
• EPFO has settled 12.91 lakh claims so far during this period.

New Delhi
quantify the economic problems of the people among the nation-wide lockdown made to overcome the corona virus can be gauged from the fact that passing them taking money from your PF Akound the-facing living. Around 8.2 lakh members of EPFO and private PF funds have withdrawn Rs 3,243.17 crore for their survival. The Employees Provident Fund Organization, in its March 28 decision, allowed partial withdrawal to the shareholder employees of the scheme to deal with difficulties due to lockdown.

Settlement of 12.91 lakh claims, the
Ministry of Labor said in a statement, ‘The EPFO under the Union Ministry of Labor and Employment has (in the meantime) settled a total of 12.91 lakh claims, with the Kovid-19 Prime Minister’s Garib Kalyan Yojana announced in the crisis ( The PMGKY package includes 7.40 lakh claims related to the rebate granted. A total amount of Rs 4,684.52 crore is covered under these claims, including claims of Rs 2,367.65 crore under the PMGKY package. The ministry said the exempted private PF trust also settled claims in the wake of the Kovid-19 epidemic.

of 875.52 cr from private trust
The statement said that the exempted private PF trust had given Rs 875.52 crore to 79,743 PF members as an advance for Kovid-19 by 27 April 2020. In this, 222 private sector establishments gave Rs 338.23 crore to 54,641 beneficiaries. 76 public sector establishments gave Rs 524.75 crore to 24,178 beneficiaries. 23 establishments of the cooperative sector gave Rs 12.54 crore to 924 beneficiaries.

Private PF Trusts manage themselves
Private PF trusts manage their employees’ PF amount themselves and are exempted from filing monthly PF returns and are thus called exempted establishments. Tata Consultancy Services (Mumbai), HCL Technologies Limited (Gurugram) and HDFC Bank (Mumbai) are the three top private sector exempt institutions. ONGC (Dehradun), Neyveli Lignite Corporation (Neyveli) and BHEL (Trichy) are the top three exempted establishments in the public sector.

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