EPFO News: Good News for PF Account Holders, Now You Can Withdraw Rs 1 lakh in 1 Hour, Know Details Here

EPFO News: There is good news for PF account holders. In the Coronavirus, the government has started a new service to meet their sudden need of money. Under this, they can withdraw up to one lakh rupees in advance from the Provident Fund account. This money can be withdrawn at the time of any kind of medical emergency. You have to show the cost to take advantage of this service.

The Employees’ Provident Fund Organization (EPFO) issued a circular in this regard on June 1. According to this, PF account holders can withdraw medical advances up to Rs 1 lakh. Apart from coronavirus, money can be withdrawn from PF if you are admitted to the hospital in an emergency for other diseases. As per the circular, the employee or any member of his family will have to submit a letter seeking medical advance. Along with this, it is also necessary to give information about the patient and the hospital.

EPFO News: How is it different from the previous service?

Earlier also, there was a facility to withdraw money from EPF at the time of medical emergency. But you used to get this money after depositing the medical bill. Medical Advance Service is different from that. You do not have to pay any bills for this. All you have to do is apply and the money will be transferred to your account. As soon as the illness is confirmed, the family members of the employee can apply for EPF money and within a few hours, they will get Rs 1 lakh.

Also, Read This: EPF vs GPF vs PPF: Know which one is the better option of Investment

How to withdraw money

An advance claim can be taken online on the home page of the www.epfindia.gov.in website. Apart from this, an advance claim can also be made from unifiedportalmem.epfindia.gov.in.

Go to Online Services.

Fill the claim (Form-31,19,10C & 10D).

Enter the last 4 digits of your bank account and verify.

Click on Proceed for Online Claim.

Select PF Advance from the drop-down (Form 31).

Select the reason why you are withdrawing money.

Enter the required amount and upload the scanned copy of the check and enter your address.

Click on Get Aadhaar OTP and type OTP received on Aadhaar linked mobile.

Your claim has been filed.