Covid-19 impact: Govt allows withdrawal from EP...

Covid-19 impact: Govt allows withdrawal from EPF savings

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Deal Subedar
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The labour ministry on Sunday issued a notification allowing millions of subscribers of the employees’ provident fund organization (EPFO) to withdraw a portion of their retirement savings with immediate effect amid the Covid-19 lockdown. As per the gazette notification, EPFO subscribers can withdraw 75% of their savings or up to a maximum of three months’ basic pay and dearness allowance from their PF account – whichever is lower. Once a subscriber withdraws the amount, it cannot be replenished after the situation improves.

https://www.livemint.com/news/india/covid-19-lo...

6 Comments  |  
5 Dimers
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Blogger
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anything similar for nps subscribers ?

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Deal Cadet
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Not for MNCs like Infosys

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Blogger
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rockingneo wrote:

Not for MNCs like Infosys

Bigger private organisations will have their own EPFO trust. They will have to come out with their own notification.

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Deal Cadet
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rsai01 wrote:

Bigger private organisations will have their own EPFO trust. They will have to come out with their own notification.

Yeah, that’s true but still the condition is our basic pay should be less than 15k for withdrawal.

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Deal Subedar
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rogerthat wrote:

anything similar for nps subscribers ?

No announcement as of now.

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Deal Cadet
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rockingneo wrote:

Yeah, that’s true but still the condition is our basic pay should be less than 15k for withdrawal.

Bro, it says’This is for those establishments which have up to 100 employees and 90 per cent of them earn less than 15,000’.

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