New Delhi: The Employees’ Provident Fund Organization (EPFO) Has Made Changes In The Provident Fund (PF) Withdrawal Rules. Allows PF Account Holders To Withdraw Non Refund Advance From Their PF Or EPF Account. The Purpose Of This Decision Is To Help The EPFO Members Affected By The Kovid-19 Pandemic. An EPFO Subscriber Can Now Use The PF/EPF Withdrawal Facility Offered By EPFO Citing COVID-19 As The Reason For Withdrawal.
Speaking On PF Withdrawal Rule Change, SEBI Registered Tax And Investment Expert Jitendra Solanki Said, “EPFO Has Changed The PF Withdrawal Rule For Non Refund Advance For Those EPFO Members Who Are Badly Affected By The Second Wave Of COVID-19 Pandemic. Huh. In This New Rule, An EPFO Member Is Eligible For PF Withdrawal Of Three Months Basic Salary Along With Dearness Allowance (DA) Or 75 Per Cent Of The Net PF Balance, Whichever Is Less. Non Refund Advance Is Also Available For Those EPFO Members Who Have Availed This Facility In The First Wave Of Corona Virus.
Advising The EPFO Members To Withdraw PF Money Online, Manikaran Singhal, Founder, Goodmoneying.Com Said, “PF Withdrawal Claims Made Online Helps EPFO To Reduce The Claim Settlement Time.”
Singhal Further Said That As Per The Claims Of Ministry Of Labor And Employment, Online PF Withdrawal Claim Can Be Settled In 3 Days While Offline PF Withdrawal Claim Will Take Around 20 Days.
How To Claim PF Withdrawal Online:
Online PF Withdrawal Claim Requires Aadhaar, PAN And An Active UAN Linked To The Bank Account. Also The Mobile Number Registered With UAN Should Be Operational.
Here Is The Step-By-Step Guide For Online PF Withdrawal Claim:
1: Log In To Your EPFO Account Using The Given UAN And Its Password
2: Go To The ‘Online Services’ Tab And Select ‘Claim (Form-31, 19 & 10C) Option
3: Your PF/EPF Account Details Will Be Visible On The Computer Monitor. Enter The Last Four Digits Of Your Bank Account Number And Click On ‘Verify’ Button
4: Confirm ‘Terms And Conditions’
5: Click On ‘Proceed Claim Online’ Button
6: “PF Advance (Form 31)” Select ‘ And Give Reason For PF Withdrawal
7: Enter Required Amount And Fill Your Full Address
8: Fill Your Bank Account Details And Upload Bank Account Check
9: Click On ‘Send OTP’ Option
10: After Receiving OTP OTP Enter
EPFO Member Must Note That Your Online PF Withdrawal Claim Requires Authentication From Your Employer. After Authentication By The Employer, The Withdrawal Amount Will Be Transferred To The Given Bank Account.
