New Delhi, Mar 29 (UNI) The Union Ministry of Labour and Employment on Sunday notified an amendment in the Employee Provident Fund (EPF) scheme, allowing withdrawl of non-refundable advance, in the wake of Novel Coronavirus.
The notification permits withdrawal of up to the amount of basic wages and dearness allowance for three months or up to 75 per cent of the amount standing to member's credit in the EPF account, whichever is less, in the event of outbreak of the pandemic.
'COVID-19 has been declared pandemic by appropriate authorities for the entire country and therefore, employees working in establishments and factories across entire India, who are members of the EPF Scheme, 1952, are eligible for the benefits of non-refundable advance.