Centre to pay Provident Fund of select employees for 3 months, announces FM Sitharaman

Mar 26, 2020

New Delhi, Mar 26 (ANI): Finance Minister Nirmala Sitharaman announced that the Government of India will provide Provident Fund of both employees and employers for next 3 months. She announced, “Government of India will pay the Employees' Provident Fund (EPF) contribution, both of employer and employee, put together it will be 24%, this will be for next 3 months. This is for those establishments which have upto 100 employees and 90% of them earn less than 15,000.” She further added, “Government ready to amend the regulation of EPF due to this pandemic so that workers can draw upto 75% non-refundable advance from credit in PF account or 3 months salary, whichever is lower.”