Good news for PF investors, Govt likely to increase EPFO claim limit from ₹1 lakh to ₹5 lakh: Report | Mint
Source: Live Mint
The Central government’s Employees Provident Fund Organisation (EPFO) has decided to likely increase the auto settlement of the advanced claim (ASAC) limit to ₹5 lakh, compared to its current levels of ₹1 lakh, reported the news agency ANI, citing people aware of the development on Monday, March 31.
Sumita Dawra, Secretary of the Ministry of Labour and Employment, reportedly approved the proposal to increase the withdrawal limit in the 113th meeting of the Executive Committee (EC) of the Central Board of Trustees (CBT), held last week, reported the news agency.
Ramesh Krishnamurthi, Central Provident Fund Commissioner of EPFO, also attended the meeting held in Srinagar on March 28, as per the report.
The recommendation will need to go for approval of the CBT, and after the approval, the EPFO members will be eligible to claim their provident fund (PF) up to ₹5 lakh through the ASAC.
LiveMint couldn’t independently verify the report.
(This is a developing story. Please check back for updates.)
