You are here: Home » PF » News » Savings Schemes
Business Standard

Strapped for cash? Dip into your EPF corpus only as the last resort

Sell off investments that you possess in a manner that your asset allocation is maintained

Coronavirus | jyotiradithya Scindia


The financial hardship unleashed by the Covid-19 crisis — job losses, severe salary cuts, high medical expenses, etc — have led many subscribers of the Employees’ Provident Fund Organisation (EPFO) to withdraw money from their accounts.

According to media reports, 80 lakh subscribers of the EPFO have withdrawn Rs 30,000 crore between April and the third week of July — an amount higher than the outgo usually seen over similar periods. On March 28, the Labour Ministry had issued a notification that allowed people to withdraw money from their EPF account to deal ...

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, October 23 2020. 19:55 IST