The amount of disbursals under COVID-19 claims to subscribers is a sizable amount of over one fifth of the total disbursement during the period by the EPFO.
Retirement fund body EPFO has settled 56.79 lakh COVID-19 non-refundable advance claims, and has disbursed ₹ 14,310 crore till December 31, 2020, reflecting the adverse impact of the pandemic on the formal sector workforce.
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.
“The EPFO has settled 56.79 lakh COVID-19 withdrawal claims and disbursed ₹ 14,310 crore to subscribers during the pandemic till December 31, 2020,” a source said.
According to the source, the EPFO has settled 197.91 lakh claims related to final settlement, death,…