PF withdrawal for Covid-19: Employees’ Provident Fund subscribers can now withdraw Basic Pay + Dearness Allowance of three months, or 75 per cent of their PF money, whichever is lower
PF withdrawal for Covid-19: Employees’ Provident Fund subscribers can now withdraw Basic Pay + Dearness Allowance (DA) of three months, or 75 per cent of their PF money, whichever is lower, as a non-refundable advance to face the Covid-19 crisis. The Union Ministry of Labour and Employment has notified a change in the EPF Scheme 1952 which would allow EPF subscribers to withdraw non-refundable advance from their EPF accounts in the wake of Covid-19 pandemic. “Union Ministry of Labour and Employment has issued notification GSR 225(E) amending EPF Scheme 1952 to allow withdrawal of non-refundable advance by EPF members/subscribers in the wake of COVID -19 pandemic in the country,” the ministry said in a statement yesterday (Sunday).
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EPF withdrawal for Covid 19: How much you can get
The EPF rules allow subscribers to withdraw non-refundable advance in certain cases like illness, buying a house etc. Now, pandemic can also be cited as a reason for withdrawing the non-refundable advance.
Source: Financial Express
