The ongoing lockdown in the country has stalled from the economy to the business due to the Corona crisis. Jobs are in crisis. There is an atmosphere of fear among employees about salary cuts or withholding. Amidst these conditions, the government has introduced an epidemic advance facility for about 6 crore members of the Employees Provident Fund Organization (EPFO). If you are struggling with money in lockdown, then under this facility, you can withdraw up to 75% from your EPF account or 3 months basic salary and dearness allowance, whichever is less. You will not have to deposit this amount. The EPF Scheme-1952 has been amended for this facility.
You can withdraw a non-refundable amount up to a limit of basic salary and dearness allowance. This may be equal to 75% of the PF account amount or three months dearness allowance (whichever is less). If you have Rs 50,000 in your account and the monthly basic salary and dearness allowance are Rs 15,000. 75% of Rs 50,000 will be Rs 37,500, while three months' salary will be Rs 45,000. So you can withdraw Rs 37,500.
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