EPFO News: Employees’ Provident Fund Organization (EPFO) has given a new facility to its members.
EPFO News: Employees’ Provident Fund Organization (EPFO) has given a new facility to its members. In this, EPF members can take advantage of the Kovid Advance facility even after leaving the job. According to the EPFO, if an EPFO member has lost his job, then Kovid can withdraw money from his PF with the advance facility. However, keep in mind that the EPFO member has not made the final EPF withdrawal. Being an advance, the employee is not required to put the money back in the Provident Fund (PF) account.
EPFO has given the facility to withdraw PF advance in the time of COVID19 pandemic. Although there is a facility of partial withdrawal from PF account even earlier, but it can be availed in case of some special situations like medical emergency, education of children, marriage, etc. Under the EPFO Advance Scheme, subscribers can withdraw basic salary and dearness allowance for three months or up to 75 per cent of the member’s deposit in the EPF account, whichever is less. Due to this, EPF members, especially those whose monthly salary is less than Rs 15,000, have got a big help during the Kovid-19 epidemic.
PF: This is the process, money will come in 3 days
- Login to the member interface of EPFO’s unified website
- https://unifiedportalmem.epfindia.gov.in/memberinterface.
- After this, going to the Online Services option, click on Claim (Form-31,19,10C, 10D).
- Enter the last 4 digits of your bank account and verify.
- After this click on Proceed for Online Claim.
- Now select Outbreak of Pandemic (Covid-19) and enter the required amount.
- Upload the scanned copy of the bank account check.
- Click on Get Aadhaar OTP and enter the OTP.
- After this your claim will be submitted and money will be credited to your bank account within 3 days.
Who will get the benefit
There are more than 6 crore subscribers of EPFO, these people can take advantage of this scheme if needed. Employees working in factories and companies covered under the EPF scheme are eligible to withdraw this amount. For this sub-para (3) of Para 68L of the EPF Scheme, 1952 has been added. The Revised Employees’ Provident Fund Fund (Amendment) Scheme, 2020 came into force from March 28 last year.
Before withdrawing PF advance, keep in mind that your KYC account should be updated. If the KYC of your account is not updated, then your advance may stop. If you are applying online for PF Advance, then keep in mind that your UAN should be linked with Aadhaar. Also, the KYC and mobile number of the bank account should be linked to the UAN. If this is not done, then you will have to update your KYC by submitting your KYC on the member portal.
