New Delhi: Union Finance Minister Nirmala Sitharaman on Wednesday said that in order to ease financial stress as businesses get back to work, Government decides to continue EPF support for business & workers for 3 more months providing a liquidity relief of Rs 2,500 crores.
Under Pradhan Mantri Garib Kalyan Package (PMGKP), payment of 12 per cent of employer and 12 per cent employee contributions was made into EPF accounts of eligible establishments. This was provided earlier for salary months of March, April and May 2020.
Now, this support will be extended by another 3 months to salary months of June, July and August 2020. This will provide liquidity relief of Rs 2500 crore to 3.67 lakh establishments and for 72.22 lakh employees.
