The Employees Provident Fund (EPF) Advance Form, also known as Form 31, is typically used to submit a claim for a partial withdrawal or advance from the EPF account.
EPFO settles 56.79 lakh COVID-19 advance claims, releases over Rs 14,000 cr till December
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Last Updated: Jan 17, 2021, 12:35 PM IST
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Synopsis
When the coronavirus-induced lockdown was imposed in March, the central government had allowed over 6 crore subscribers of the Employees Provident Fund Organisation s (EPFO) to withdraw an amount not exceeding their three months basic pay and dearness allowance from their EPF account, to support them during the nationwide lockdown.
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Private EPF trusts manage the fund as well as EPF accounts of their members themselves. These firms are exempted from filing EPF returns to the EPFO. These are regulated by the EPFO.
EPFO settled close to 150 lakh claims during this fiscal, disbursing over Rs five lakh crore
Synopsis
As per the statement, EPFO has settled 47.58 lakh COVID-19 advance claims till October 31, 2020, disbursing an amount of Rs 12,220.26 crores to claimants while a total of 149.31 lakh final settlement have been made amounting of Rs 55,900.88 crores to PF members till October 21, 2020.
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The Employees Provident Fund Organisation has settled 149.3 lakh claims in the first seven months of the current fiscal, disbursing Rs 55900.88 crore to its beneficiaries. This includes 47.58 lakh non-refundable Covid claims amounting to Rs 12220.26 crore, the labour ministry said on Friday.
“As part of Pradhan Mantri Garib Kalyan Yojana scheme, under para 68L, provision was made for a non-refundable advance from EPF account to EPF members, employed in any factory or establishment located in an area, which is declared to be affected by outbreak of epidemic or pandemic by the ap