EPFO Alert! Employees' Provident Fund Organization (EPFO) on March 26 announced changes in EPF Rules to allow advance non-refundable withdrawal of PF money in wake of the situation arising from coronavirus outbreak. The EPFO in its order said that employees would be allowed to withdraw 75% of his fund or three months salary (whichever is lower) as advance from the provident fund account after one month of unemployment and keep its account with the EPFO active.
EPFO has an active subscriber’s base of over 55 million and manages a corpus of over 10.5 trillion. Earlier, the advance withdrawal of PF money was allowed in cases like purchase/construction of the house, repayment of a loan, non-receipt of the wage for two months, the marriage of self/daughter/son/brother, for medical treatment of family members among others.
To withdraw PF money online, you must have an active Universal Account Number (UAN) and the mobile number used for activating the UAN number should be in working condition.
Here's a step-by-step guide to withdraw EPF money citing COVID-19 outbreak
Here are the steps to initiate an EPF claim online citing coronavirus pandemic as the reason:
Step 1: Login to the EPFO portal - unifiedportal-mem.epfindia.gov.in using UAN and password
Step 2: Go to 'online services' and select 'claim' section
Step 3: Verify the bank account number
Step 4: Upload a scanned copy of a cheque or the passbook
Step 5: You will be asked a reason for submitting the advance. Select 'outbreak of pandemic' as the reason
Step 6: Generate an Aadhaar-based OTP. Once the claim is processed, it will be forwarded to the employer for approval.
ALSO READ: PF money can be partially withdrawn for following purposes
ALSO READ: PF balance: Simple steps to check it anytime
Latest Business News
