PF rules for withdrawal notified

PF rules for withdrawal notified

The Telegraph

The Union labour ministry has allowed over 6 crore subscribers to the Employees' Provident Fund Organisation (EPFO), the retirement fund, to withdraw an amount not exceeding their three months' basic pay and dearness allowance from their account in view of the lockdown.

The EPFO on Saturday morning introduced an online claim settlement facility, without the need for manual intervention, for all KYC-compliant subscribers for the duration of the lockdown.

The ministry had issued a notification on March 28 to amend the Employees' Provident Fund Scheme, 1952, a labour ministry statement said.

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