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EPFO gives gift during lockdown, money deposits in account in just 72 hours

EPFO Lockdown

New Delhi: Employee Provident Fund Organization (EPFO) shareholders who have applied for any other claim and are yet to be decided, such shareholders can file a claim online for speedy settlement. The EPFO said that priority is being worked under the Special Corona Virus Withdrawal Scheme for Employees Provident Fund (EPF) claims.

EPFO said, Claims are being settled from Auto mode on online claims under Kovid-19 and the money will come to your account in just 72 hours.

EPFO has settled 1.37 lakh withdrawal claims worth Rs 280 crore to provide relief to the shareholders during the lockdown. The Labor Ministry on Friday said that the EPFO has settled 1.37 lakh claims worth Rs 279.65 crore during the lockdown.

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Under this scheme, EPFO shareholders can withdraw 75 per cent of their savings or a maximum of three months of basic salary and dearness allowance from their PF account (whichever is less). In addition to the new epidemic withdrawal provision, EPFO has also allowed customers to currently withdraw home construction, marriage, children’s education, sickness and unemployment.

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The Ministry of Labor said on Friday that shareholders have started receiving withdrawal money from them. EPFO has settled these claims in the last ten days. The EPFO said that in its system, claims of fully Know Your Customer (KYC) compliant shareholders are being settled in less than three days.

The ministry said that members who have applied in any other category can also claim withdrawal as per KYC compliance status to deal with the coronavirus crisis. The statement said that every effort is being made to settle all claims expeditiously.

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