In order to ease the burden of EPF subscribers during the COVID-19 crisis, the Labour and Employment Ministry had on March 28 made amendments to the Employees’ Provident Funds Scheme (EPFO) allowing partial withdrawal of provident fund.
EPFO members are allowed withdrawal not exceeding the basic wages and dearness allowances for three months or up to 75 per cent of the amount present in the EPF account of the member.
The EPFO members will be allowed to apply for the withdrawal online and all EPFO members will be able to avail the facility.
To fasten the EPFO claim the provident fund body had in June 2020 launched a multi-location claim settlement facility by allowing EPFO offices to settle online claims from any of its regional offices, across the country.
All types of online claims –provident fund, pension, partial withdrawal and claims and transfer claims can be processed under this initiative.
The multi-location claim settlement facility allows offices with lesser workload to share the burden of offices that have accumulated a higher level of pendency, due to COVID-19 restrictions. It enables fast-tracking of settlement process through most appropriate engagement of EPFO’s workforce in all its regional offices across the country.