Centre to pay Provident Fund of select employees for 3 months, announces FM Sitharaman

Finance Minister Nirmala Sitharaman announced that the Government of India will provide Provident Fund of both employees and employers for next 3 months. She announced, "Government of India will pay the Employees' Provident Fund (EPF) contribution, both of employer and employee, put together it will be 24 percent, this will be for next 3 months. This is for those establishments which have upto 100 employees and 90 percent of them earn less than 15,000." She further added, "Government ready to amend the regulation of EPF due to this pandemic so that workers can draw upto 75 percent non-refundable advance from credit in PF account or 3 months salary, whichever is lower."