EPFO added 15.48 lakh net members during February: Govt
A noticeable aspect of the EPFO data is the dominance of the 18-25 age group which constitutes a significant 56.36 per cent of the total new members.
During the lockdown, Employees’ Provident Fund Organization (EPFO) has settled a total of 12.91 lakhs claims amounting to Rs 4684.52 crores which includes Rs 2367.65 crores COVID claims under PMGKY package, the government said on Tuesday.
EPFO, which comes under the Ministry of Labour and Employment, has settled a total of 12.91 lakh claims which includes 7.40 lakhs COVID-19 claims under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) package.
“As on April 27, 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,” Ministry of Labour and Employment said in a press note.
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Tata Consultancy Services Mumbai, HCL Technologies Ltd Gurugram and HDFC Bank Powai, Mumbai are the top three exempted establishments in the private sector, both in terms of “number of claims settled” and “amount disbursed”.
In the public sector, ONGC Dehradun, Neyveli Lignite Corporation Neyveli and BHEL Trichyare the top 3 exempted establishments to have settled maximum number of COVID-19 advance claims; whereas Neyveli Lignite Corporation Neyveli, ONGC Dehradun and Vishakhapatnam Steel Plant Vishakhapatnam are top three establishments in terms of the amount disbursed to EPF members, the ministry said.
On March 28, the government had introduced a special provision in the EPF scheme providing ease to withdraw the PF amount during the coronavirus crisis.
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.
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.
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