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Lockdown impact: Over 650,000 workers dig into EPF as incomes dry up

city New Delhi covid-19 pandemic Government Coronavirus
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New Delhi: More than 650,000 people have dug into their employee provident fund (EPF) savings to offset the income loss caused by the lockdown imposed to check the spread of the coronavirus.

As many as 30,000-35,000 people are withdrawing their provident fund savings on an average working day in April, an indication of the hardship the working class is facing.

Around ₹2,700 crore has already been withdrawn under the newly-facilitated pandemic rules, according to data from retirement fund manager Employees’ Provident Fund Organisation (EPFO). “This includes both money withdrawn from the retirement fund corpus directly under EPFO and the corpus managed by company PF trusts.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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