EPFO settles 1.37 lakh COVID-19 claims in less than 10 days
EPFO settles 1.37 lakh COVID-19 claims in less than 10 days 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. The member can apply for lesser amount also. This, being an advance, does not attract income tax deductions. Anticipating the huge surge in the demand, EPFO came out with a completely new software which has been developed from scratch and a receipt module for on-line receipt of the claims was introduced within 24 hours and deployed on 29th March 2020. Further, the application was required to be in paperless form to curtail any ph...