Pune, September 15, 2020: Labor and Employment Minister Santosh Gangwar informed in the Parliament that the employees from the private sector has withdrawn money from their Employees Provident Fund (EPF) account during the lockdown. The amount was upto Rs 40,000 crore. Interestingly, Maharashtra State has topped the chart with Rs 7,838 crore.
The government had allowed withdrawing the PF amount during the lockdown. Because of lockdown, many small businesses were closed down while many lost their employment. Thus, the government had allowed withdrawing the money. Accordingly, nearly, Rs 39.403 crore was withdrawn from March 25 to August 31.
Maharashtra tops the chart
Maharashtra has topped the chart with Rs 7838 withdrawal from EPF account. Karnataka secured the second position while Tamil Nadu stood third.
Special scheme by the government
Three months salary and dearness allowance or 75 percent from PF account were allowed by the government during the lockdown.