Earlier it used to take 15 to 20 days to claim this facility of EPFO, but now this work is done within 3 to 4 days. This much time was also taken because details like eligibility of the member, documents, KYC status of EPF account, bank account etc. were checked.
EPFO Claim: Employees Provident Fund Organization (EPFO) has made changes in many rules so that employees do not have to face any kind of problems. At the same time, EPFO has also provided the facility of auto-mode settlement for advance claims for medical, education, marriage and housing purposes. PF account holders, who are more than 6 crores, can take advantage of this facility. This is a facility that provides funds to people in emergency.
Earlier, it used to take 15 to 20 days to claim this facility of EPFO, but now this work is done within 3 to 4 days. So much time was also taken because details like eligibility of the member, documents, KYC status of EPF account, bank account etc. were checked. But now in the automated system, scrutiny and approval is sent to them so that the claim is done easily.
Who can claim?
The auto mode for claim settlement of this fund in case of emergency was started in April 2020 itself, but, then money could be withdrawn only in case of illness. Now its scope has been expanded. You can also withdraw money from EPF for illness, education, marriage and buying a house. At the same time, if there is a marriage of sister or brother in the family, then also advance money can be withdrawn.
How much money can be withdrawn?
Advance fund can now be withdrawn up to Rs 1 lakh from EPF account, whereas earlier this limit was Rs 50 thousand. Advance fund can be withdrawn through auto settlement mode on computer. No approval is required for this and the money will be sent to your account within three days. For this, KYC, eligibility of claim request, bank account details are required.
Complete process of withdrawing money
- First of all, log in to the EPFO portal using UAN and password.
- Now you have to go to online services and select the ‘Claim’ section. Verify bank account, click on Proceed for Online Claim.
- When the new page opens, select PF Advance Form 31. Now select the PF account.
- Now you have to fill in the reason for withdrawing money, how much money to withdraw and address. After this, you have to upload a scanned copy of the cheque or passbook.
- After this, you have to give consent and verify it with Aadhaar. After the claim is processed, it will go to the employer for approval.
- Under online service, you can check the claim status.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at informalnewz@gmail.com
