Skip to main content

Union Labour Ministry notifies amendment in EPF Scheme to allow withdrawal of non-refundable advance by EPF members in the event of outbreak of pandemic

Union Ministry of Labour and Employment has issued notification GSR 225(E) amending EPF Scheme 1952 to allow withdrawal of non-refundable advance by EPF members/subscribers in the wake of COVID -19 pandemic in the country. The notification permits withdrawal of upto the amount of basic wages and dearness allowance for three months or upto 75% of the amount standing to member's credit in the EPF account, whichever is less, in the event of outbreak of epidemic or pandemic.
COVID-19 has been declared pandemic by appropriate authorities for the entire country and therefore employees working in establishments and factories across entire India, who are members of the EPF Scheme, 1952 are eligible for the benefits of non-refundable advance. A sub-para(3) under para 68L has been inserted in the EPF scheme,1952.The amended scheme Employees Provident Fund (Amendment) scheme,2020 has come into force from 28 March,2020. PF Notification

Labels:

Comments

Post a Comment

Popular posts from this blog

Consolidated guidelines issued by Ministry of Home Affairs for containment of COVID-19 in the country

The Ministry of Home Affairs has issued consolidated guidelines on the measures to be taken for containment of COVID-19 in the country. Guidelines have been issued on below subjects: - List of Activities to remain prohibited 3rd May, 2020 Operation of guidelines in Hotspots and containment zones List of Select permitted activities allowed with effect from 20th April, 2020 Strict enforcement of the lockdown guidelines All health services to remain functional Agriculture & related activities Functional areas in Financial sector Social sector Online teaching MNREGA workers Public utilities Movement of goods Supply of essential commodities Private Establishments Industrial Establishments Construction activities Movement of people Government offices Persons to remain under mandatory quarantine Lockdown instructions Penal provisions To view, the guidelines in detail, kindly click on below link Ministry of Home Affairs- Order
Post a Comment
Read more

SEBI- Measures to further facilitate fund raising from capital markets in the backdrop of COVID-19 pandemic

In the wake of challenges for the Indian economy arising out of the Covid-19 pandemic and with a view to improving access to funding to the corporates through capital markets, SEBI has decided to grant certain temporary relaxations from the regulatory provisions related to rights/ public issuances by listed entities. Rights Issues 1. Fast track Rights issuances Towards expanding the universe of listed entities for the purpose of fast track rights issuances, SEBI has relaxed the following conditions: The eligibility requirement of average market capitalisation of public shareholding of INR 250 crores has been reduced to INR 100 crores. The requirement related to period of listing of equity shares of the issuer for at least three years has been reduced to listing for eighteen months only. The condition related to no audit qualifications on issuer’s audited accounts has been replaced with the requirement to disclose the impact of audit qualifications on issuer...
1 comment
Read more

Ministry of Home Affairs (MHA) directs all States/UTs to provide necessary Police Security to Doctors

In view of reported incidents of harassment of Doctors and Medical Staff, Union Ministry of Home Affairs (MHA) has directed all States/UTs and respective Police authorities to provide necessary Police Security to them in hospitals and at places where patients who have been diagnosed COVID-19 positive or where suspected cases are quarantined. It has also been communicated to provide necessary police security to doctors and medical staff who visit places to conduct screening of people to find out symptoms of the disease. Press Release
Post a Comment
Read more