The Employees' Provident Fund Organisation (EPFO) said on Friday it has processed about 1.37 lakh withdrawal claims across the country amounting to Rs 279.65 crore to help subscribers amid the COVID-19 epidemic and subsequent lockdown.
The remittances have started taking place. The system is processing applications which are fully KYC compliant within less than 72 hours, according to a statement issued by the Ministry of Labour and Employment.
The provision for a special withdrawal from EPF Scheme to fight COVID-19 pandemic is part of Pradhan Mantri Garib Kalyan Yojana.
Under this provision, non-refundable withdrawal to the extent of the basic wages and dearness allowances for three months or up to 75 per cent of the amount standing to member's credit in the EPF account is provided.
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