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Current Affairs

Government Announced to Pay EPF for 3 months

Current context: Finance Minister Nirmala Sitharaman has announced on 26th March 2020 that the government of India will pay the EPF contribution both of the employer and the employee (12% each) for the next three months i.e. together 24%.
Government Announced to Pay EPF for 3 months 

  • This will be applicable for establishments with up to 100 employees, where 90% of employees draw less than Rs 15,000 salary.
  • The government has also amended the EPFO regulations to allow workers under EPFO to draw up to 75% of their non-refundable advance or 3 months of wages, whichever is lower.
  • This will benefit about the benefit of 4.8 crore employees.
  • Currently, non-refundable advances are permitted only for specified purposes such as housing, marriage, etc.
  • These are part of Rs 1.7 lakh crore PM Gareeb Kalyan package announced by Finance Minister Nirmala Sitharaman on 26th March 2020.

Question: 

Q.1 The Government of India will pay the EPF contribution both of the employer and the employee (12% each) for the next three months for establishments with up to 100 employees, where _____________% of employees draw less than Rs 15,000 salary?
a. 50
b. 60
c. 90
d. 100
Government Announced to Pay EPF for 3 months Government Announced to Pay EPF for 3 months Reviewed by Neha Verma on March 26, 2020 Rating: 5

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