MoLE publishes the Employees’ Provident Funds (Amendment) Scheme, 2020

Mar 30, 2020 | by Avantis RegTech Legal Research Team

A |  A

Labour Compliance

The Ministry of Labour and Employment (MoLE) on March 27, 2020, publishes the Employees’ Provident Funds (Amendment) Scheme, 2020 to provide advance to the Employees’ Provident Funds (EPF) members in the situation emerging due to COVID-19 pandemic.

In paragraph 68L of the Employees’ Provident Funds Scheme, 1952, which talks about grant of advances in abnormal conditions, sub-paragraph (3) has been inserted, namely:

The Commissioner or, where so authorized by the Commissioner, any officer subordinate to him, may, on an application from any member of this Scheme employed in any establishment or factory located in an area declared as affected by outbreak of any epidemic or pandemic by the appropriate Government, permit a non-refundable advance from the provident fund account of such member not exceeding the basic wages and dearness allowances of that member for three months or up to seventy-five per cent of the amount standing to his credit in the Fund, whichever is less.


Bookmark

Related Updates



Alternate Text

Get updates on the go on RuleZbook Mobile App.