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New Delhi27 minutes ago
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In view of the people whose income has been affected by Coronavirus, the Employees Provident Fund Organization (EPFO) has once again approved to take advantage of the Kovid-19 Advance Scheme. Under this, EPFO subscribers can withdraw money equal to 3 months salary from their provident fund. You will not have to return this money. For this EPFO members can apply online. We are telling you how you can apply for this.
How much money can I withdraw?
The Employees Provident Fund Organization has recently facilitated advance withdrawal of their deposits, giving relief to about 8 crore EPF account holders. The EPFO amended the EPF Scheme-1952 for this, stating that employees can withdraw 75% of the amount deposited in their account or equal to three months’ salary. Employees can use this money for their needs and there will be no need to resubmit it. Any employee can take advantage of this facility.
Claims being processed within 72 hours
According to the Min istry of Labor, the work of processing the applications with full KYC accounts for 72 hours is going on. Last year, this had brought a lot of relief to the employees. EPFO had released a total amount of Rs 18,698.15 crore under such 76.31 lakh advance claim of Kovid-19.
With these easy steps, you can withdraw money from PF
Some conditions for online claim