city New Delhi India covid-19 2020 pandemic city New Delhi India

₹11,500 crore settled during lockdown

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NEW DELHI : Using artificial intelligence (AI) tools, the Employees' Provident Fund Organisation (EPFO) settled withdrawal claims worth ₹11,540 crore during the last two months of April and May. "Despite the lockdown restrictions EPFO settled a staggering 36.02 lakh claims thereby disbursing ₹11,540 crore to its members during the last two months of April and May 2020," the retirement funds body said in a statement issued today.Out of this, 15.54 lakh claims worth ₹4,580 crore were related to the recently introduced COVID-19 advance under Pradhan Mantri Garib Kalyan Yojana (PMGKY).Under the COVID-19 pandemic withdrawal, PF subscribers can withdraw to the extent of basic wages and DA for three months or up to 75% of the PF account balance,.

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