EPFO ALLOWS MEMBERS SECOND COVID-19 ADVANCE WITHDRAWAL

NEW DELHI: The Employees’ Provident Fund Organisation (EPFO), the state-run pension fund manager, has permitted contributors to withdraw a nonrefundable Covid-19 advance from their savings, the second time it has allowed such a relief measure due to the ongoing pandemic, the labour ministry said in a statement. The move to allow special withdrawals during the pandemic, which has led to financial distress, was first introduced in March 2020 under Pradhan Mantri Garib Kalyan Yojana, a Covid-19 aid package.

Official figures show, cumulatively, that EPFO has settled more than 7.63 million Covid-19 advance claims, disbursing ₹18,698.15 crore in all since the facility was made available.