3,360 crore rupees in the account of 12 lakh people during lockdown, relief given by this scheme of Modi government

By Shivani Reddy On May 18, 2020

During the lockdown, the government is trying to provide relief to every citizen including poor, laborers, farmers, workers. To make the country self-sufficient, the Modi government has given a booster dose of 20 lakh crores. At the same time, the government has also made several announcements for jobseekers. Recently, Finance Minister Nirmala Sitharaman has said that nearly 12 lakh members of the Employees Provident Fund Organization (EPFO) have withdrawn Rs 3,360 crore during the lockdown.

The EPFO allowed the employees to withdraw advances from the EPFO on March 28 in view of the problems arising out of the nationwide ban. Workers will not have to deposit this amount back. The lockdown has been in force in the country since March 25 due to the corona virus epidemic. Announcing the fifth installment of the economic package on Sunday, Sitharaman said that over the last two months, 12 lakh members of EPFO have withdrawn Rs 3,360 crore.

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The Employees Provident Fund Organization (EPFO) under the Union Ministry of Labor and Employment has settled 12 lakh claims under the Pradhan Mantri Garib Kalyan Yojana (PMGKY). The provision for special withdrawal from the EPF scheme is part of the government-announced PMGKY scheme.

This is the provision

Under this provision, members can withdraw equal to three months basic salary and dearness allowance or 75 percent of the amount lying in the member’s account, whichever is less. They will not need to deposit this amount back. Sitharaman said that 2.2 crore building and construction workers were given Rs 3,950 crore under the PMGKY scheme during the lockdown. Earlier in March, Labor Minister Santosh Gangwar asked all states to provide financial assistance to 3.5 crore construction workers with a construction cess of Rs 52,000 crore.