Amendment in EPF Scheme to allow withdrawal of non-refundable advance by EPF members
The
Ministry
of Labour & Employment issued a notification
GSR 225(E) amending the EPF Scheme, 1952 to allow withdrawal of
non-refundable advance by Employee Provident Fund (EPF) members/subscribers in the wake of the COVID -19
pandemic.
Para 68L(3) has been
inserted in the EPF Scheme, 1952, stating that employees working in
establishments and factories across India, who are members of the EPF Scheme,
1952, are eligible for the benefit of non-refundable advance. The amended Employees Provident Fund (Amendment) scheme, 2020 came into force on 28
March 2020.
The notification permits
withdrawal of upto the amount of basic wages and dearness allowance for 3
months or upto 75% of the amount standing to member's credit in the EPF
account, whichever is less, in the event of outbreak of epidemic or pandemic.
Further, field offices have been directed to promptly process any application
received from EPF members to help them fight the situation.