Thursday, April 30, 2020

During Lockdown EPFO Settles about 13 Lakh Claims

Employees' Provident Fund Organization (EPFO), under Union Ministry of Labour & Employment, has settled a total of 12.91 lakhs claims, including 7.40 lakhs COVID-19 claims under Pradhan Mantri Garib     Kalyan Yojana (PMGKY) package. This involves disbursal of a total amount of Rs. 4684.52 crores which includes Rs. 2367.65 crores COVID claims under PMGKY package.

It is heartening to note that the exempted PF trusts have also risen to the occasion amidst the COVID-19 pandemic. As on 27.04.2020, Rs. 875.52 crores have been disbursed to 79,743 PF Members as advance  for COVID-19 by the exempted PF Trusts under this Scheme, with 222 private sector establishments disbursing Rs.338.23 crores to 54641 beneficiaries, 76 public sector establishments disbursing Rs.524.75 crores to 24178 beneficiaries and 23 cooperative sector   establishments disbursing Rs.12.54 crores to 924 claimants.

M/s Tata Consultancy Services Mumbai, M/s HCL Technologies Ltd. Gurugramand M/s HDFC Bank Powai, Mumbai are the top three exempted establishments in private sector, both in terms of “number of claims settled and “amount disbursed”. In public sector, M/s ONGC Dehradun, M/s Neyveli Lignite Corporation Neyveli and M/s BHEL Trichyare the top 3 exempted           establishments to have settled maximum number of COVID-19 advance claims; whereas, M/s Neyveli Lignite Corporation Neyveli, M/s ONGC Dehradun and M/s Vishakhapatnam Steel Plant Vishakhapatnam are top three establishments in terms of amount disbursed to EPF     members.

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 28th March, 2020. Under this   provision non-refundable withdrawal to the extent of the basic wages and dearness allowances for three months or up to 75% of the amount standing to member's credit in the EPF account,    whichever is less, is provided.

Despite only one-third staff being able to work due to lockdown, EPFO is committed to serve its members during this difficult situation and EPFO offices are functional to help them during these testing times.

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