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HomePersonal FinancePF Withdrawal Rule Change: Big news! Now you can withdraw 1 lakh...

PF Withdrawal Rule Change: Big news! Now you can withdraw 1 lakh rupees within a day, know this easy rules

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New Delhi. Now your PF account can also prove to be of immediate help in financial crisis. If you need a big amount in a crisis, then PF (EPFO) can become your support.

Earlier it was believed that withdrawing money from PF is a difficult and lengthy process. But the Employees’ Provident Fund Organization (EPFO) has taken a new initiative for its subscribers.

If you need money immediately, then any member can withdraw up to one lakh rupees from his account without paper (PF withdrawal). EPFO is giving this facility to the employed people in crisis. This money will be available only under Medical Advance Claim. According to the memorandum issued by the EPFO, if there is an urgent need of Rs 1 lakh for hospitalization of the patient in case of a life-threatening disease, then the PF account holder can take advantage of this facility.

Money in the employee’s account or to the hospital

There are some important conditions for the employee to apply for money under Medical Advance Claim. For example, the patient of the applicant should be admitted to the Government / Public Sector Unit / CGHS Panel Hospital. If you have been admitted to a private hospital in an emergency, then an investigation will be done in this regard. Only after this process you can fill the application for medical claim.

Under the facility, you can withdraw advance up to Rs 1 lakh only. If you are applying on working day then your money will be transferred to the account the very next day. This money can be transferred either to the employee’s account or directly to the hospital.

Money withdrawal process

Your final bill is adjusted against the advance amount. Medical slip has to be submitted within 45 days of discharge from the hospital. Let us know how to withdraw money…

>> You can take advance claim online on the official website www.epfindia.gov.in.
>> Advance claim can also be made from unifiedportalmem.epfindia.gov.in.
>> Here you have to click on Online Services.
>> Now you have to fill the claim (Form-31,19,10C & 10D).
>> After this, you have to verify by entering the last 4 digits of your bank account.
>> Now you have to click on Proceed for Online Claim.
>> PF Advance has to be selected (Form 31) from the drop down.
>> After this you will also have to give the reason for withdrawing money.
>> Now you have to enter the amount and upload the scanned copy of the check.
>> After this fill your address details.
>> Click on Get Aadhaar OTP and enter the OTP received on the Aadhaar linked mobile.
>> Now your claim will be filed.

Pravesh Maurya
Pravesh Maurya
Pravesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ businessleaguein@gmail.com

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