Categories: Business

Rs 30,000 crore withdrawn by 80 lakh workers between April to July from PF

Photo: EPFO

Rs 30,000 crore withdrawn between April to July from PF

new Delhi. The figures related to the PF Fund are indicative of how much economic crisis the common people have suffered due to the Corona crisis. According to EPFO, between April and July, 80 lakh account holders have withdrawn Rs 30,000 crore from their retirement fund. Out of this, 30 lakh subscribers have withdrawn 8000 crore rupees under special exemption given to deal with Kovid epidemic. At the same time, 50 lakh other subscribers have withdrawn 22 thousand crore rupees under the general rules.

According to EPFO, most of the amount has been withdrawn as medical advance. The EPFO ​​believes that the number of corona patients will increase as the amount of money withdrawals can increase further and the number of withdrawals can also cross 1 crore. According to officials, the withdrawal of this amount in one stroke can also be seen on the income of 2000-21 of the fund. However, it will take some time to know how much its effect will be.

With the start of the lockdown, the government announced a special Kovid window, under which employees can withdraw funds up to a certain limit from the PF even for their everyday expenses. According to the window, employees can withdraw an amount equal to their 3 months salary from their account and there will be no need to return it later. The EPFO ​​manages a Rs 10 lakh crore PF fund in which around 6 crore employees and their employers make mandatory contributions to the country.

This post was published on July 28, 2020 4:53 pm

Content Team

Recent Posts

Mark Zuckerberg's Fortune Surpasses 100 Billion Dollar Mark Zuckerberg's wealth crosses $ 100 billion for the first time, Mukesh Ambani becomes world's fourth richest person

Photo: BUSINESS INSIDER INDIA Mark Zuckerberg’s Fortune Surpasses 100 Billion Dollar new Delhi. Facebook founder Mark Zuckerberg's net worth exceeded…

Made in India Kia Sonet to be launched in India next month, to get rid of clutch pedals

Photo: KIA MOTORS INDIA Kia Motors unveils compact SUV Sonet; plans to launch next month new Delhi. South Korea's leading…

Facebook has built 600 houses to overcome the housing crisis, will be made available to the poor

Photo: FACEBOOK Facebook fund backs nearly 600 affordable homes San Francisco. US-based technology technology company Facebook has built about 600…