Quick Summary
EPFO puts in place Online Mechanism to credit EPF and EPS Accounts of Subscribers as per PM Gareeb Kalyan Yojna Around 79 Lakh Subscribers and approximately 3.8 Lakh Establishments to Benefit Subsidy outgo estimated at Rs 4800 Crore for 3 months Employees Provident Fund Organization (EPFO), a statutory body under Union Ministry of Labour and Employment, has put in place an electronic mechanism for crediting EPF and EPS accounts of its subscribers as per the package announced by the Union G
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FAQ :
EPFO has implemented an electronic mechanism to credit the EPF and EPS accounts of eligible subscribers as part of the PM Gareeb Kalyan Yojna.
Employees earning less than Rs. 15,000 per month, employed in establishments with up to 100 employees where at least 90% earn below Rs. 15,000, are eligible.
Eligible organisations can claim the relief by filing an Electronic Challan-cum-return (ECR).
The subsidy outgo is estimated at Rs 4800 crore for a period of three months.
The scheme aims to prevent employment disruption for low-wage EPF members and provide support to eligible EPF-covered establishments during the COVID-19 pandemic.
Details and FAQs about the scheme are available on the EPFO website under the 'COVID-19' tab.
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