The provision for special withdrawal to meet the financial need of members during the pandemic was introduced in March 2020, under Pradhan Mantri Garib Kalyan Yojana (PMGKY), it said.
An amendment to this effect was made by the Ministry of Labour & Employment in Employees' Provident Funds Scheme, 1952 by inserting therein sub-para (3) under paragraph 68L, through notification in the Official Gazette.
The provision and process for withdrawal of second COVID-19 advance is same as in the case of first advance.
EPFO is committed to settling these claims within three days of their receipt.
For this, EPFO has deployed a system driven auto-claim settlement process in respect of all such members whose KYC requirements is complete in all respects.
Auto-mode of settlement enables EPFO to reduce the claim settlement cycle to just 3 days as against the statutory requirement to settle the claims within 20 days. (UNI)