The Employees’ Provident Fund Organisation (EPFO) has processed nearly 1.37 lakh claims and disbursed an amount of Rs 279.65 crore since the launch of the online facility to allow withdrawal not exceeding the basic wages and dearness allowances for three months or up to 75 per cent of the amount standing to a member’s credit in the EPF account, whichever is less, in the wake of the coronavirus pandemic.
“The system, as it stands today, is processing all applications which are fully KYC compliant within less than 72 hours. Members, who have applied for claims in some other category, can also file claim to fight pandemic and depending upon the KYC compliance condition of each member, every effort is being made to settle claims at the earliest,” an EPFO official said.
Many EPFO subscribers had raised the issue of delay in processing of the claims, which officials said are being addressed. “Fully KYC compliant applications are being cleared first automatically,” another official of the Organisation said, adding that the rest of the applications are being looked into.
EPFO has relaxed the date of birth correction criteria to ease KYC (know your customer) compliance. It is accepting the date of birth recorded in the Aadhaar card of a subscriber as a proof for rectification of the date of birth in PF records.
Moreover, all cases with variation in date of birth up to three years are now being accepted by EPFO, officials said.
Last month, Finance Minister Nirmala Sitharaman — as part of the government’s financial package to counter the COVID-19 outbreak — had announced measures for a section of organised workers by bearing the outgo on contribution of 24 per cent for establishments having up to 100 workers with 90 per cent having income below Rs 15,000 and relaxing withdrawal conditions from EPF accounts.
The scheme allowing advance withdrawal was notified on March 27 and the online facility was launched on March 29.
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