EPFO settles 60.88L Covid advance claims, releases `15,255 cr till January 31

New Delhi: Retirement fund body EPFO has settled 60.88 lakh COVID-19 non-refundable advance claims, and has disbursed Rs 15,255.95 crore till January 31, 2021, reflecting the pandemic's impact on the financial situation of the formal sector workforce.

When the COVID-19 lockdown was imposed in March, the central government had allowed over 6 crore subscribers of the Employees' Provident Fund Organisation (EPFO) to withdraw an amount not exceeding their three months' basic pay and dearness allowance from their EPF accounts to support them during the nationwide lockdown.

The EPFO has settled 60.88 lakh COVID-19 withdrawal claims and disbursed Rs 15,255.95 crore to subscribers during the pandemic till January 31, 2021, Labour Minister Santosh Gangwar said in a written reply in the

Lok Sabha.