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₹8000 crore from retirement savings

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NEW DELHI : At least 2.3 million members of Employees' Provident Fund Organisation (EPFO) have withdrawn ₹8000 crore from their retirement savings as loss of income continues to widen during the ongoing lockdown, to contain the spread of coronavirus.

The number of people withdrawing money from their EPF savings in last one and half month is about 10 times higher compared to the pre-covid period.

Speaking at a webinar organized by industry body PHD Chamber of Commerce and Industries, the Central Provident fund Commissioner (CPFC) Sunil Barthwal Friday said that the retirement fund body is making all efforts necessary for providing relief and liquidity to stake holders. “We have created a system… (though which) 23 lakh people are able to

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Recovered: 0
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