EPFO gave big relief to the members, this facility will be available even after leaving the job

Employees Provident Fund Organization-EPFO: Employees Provident Fund Organization has given permission for the second time to take advantage of Covid Advance facility.

Employees Provident Fund Organization (EPFO): EPF members can take advantage of the Covid Advance facility even after leaving the job. Apart from this, the second COVID-19 advance can now be availed by the EPF members to meet the financial needs during the pandemic. Employees’ Provident Fund Organization has given permission to take advantage of Covid Advance facility for the second time. Let us inform that in the beginning of 2020 last year, the Employees’ Provident Fund Organization (EPFO) allowed the members to withdraw funds to meet the contingency requirements arising due to the corona virus epidemic.

Permission to take Covid-19 advance for the second time

Under the new announcement of EPFO, members are allowed to withdraw 3 months basic salary (basic pay + dearness allowance) or up to 75 percent of the amount deposited in the provident fund account of the members, whichever is less. has been given. According to a statement issued by the Ministry of Labor, EPFO ​​has given permission to take Covid-19 advance for the second time to help the subscribers during the second wave of Corona epidemic. The funds will be credited to the member’s bank account within three days of making the claim.

EPF Members can now avail COVID Advance Facility even after leaving service.

ईपीएफ सदस्य नौकरी छोड़ने के बाद भी कोविड एडवांस सुविधा का लाभ उठा सकते हैं।#EPFO #SocialSecurity #HumHainNa #PF #COVID19 #Advance #पीएफ #ईपीएफओ pic.twitter.com/h9aw3JeDqj

— EPFO (@socialepfo) June 15, 2021

The shareholders will not be required to return this fund. Explain that under the Pradhan Mantri Garib Kalyan Yojana (PMGKY), the provision of special withdrawal was made in March 2020 to meet the financial need of the members during the Covid-19 epidemic. An amendment to this effect was also made in the Employees’ Provident Fund Scheme, 1952. Under the amendment, the fund can be withdrawn to the extent of basic salary and dearness allowance (which is in the form of basic pay) for 3 months or up to 75 percent of the total amount of the member in the EPF account, whichever is less. Apart from this, there is no need to return this fund. Any member can also apply for cum fund.