You can withdraw money from your provident fund even if you have lost your job in the Kovid-19 pandemic, or you have left. You can do this under the Kovid Advance facility of EPFO.
New Delhi: If you are a subscriber to the Employees’ Provident Fund Organization (EPFO) and you have lost your job, or you have quit due to the COVID-19 pandemic, you can still withdraw money from your provident fund . You can do this under the Kovid Advance facility of EPFO. The organization operating the retirement corpus has told that any PF subscriber can apply for Kovid Advance. There are only a few conditions for this. Let us tell you that in view of the problem of people in Kovid-19, EPFO had given the facility of Kovid Advance Facility , under which people can withdraw some part of their deposits from their retirement fund during this crisis. Recently, the institution had extended this facility further.
Who can avail the facility of Kovid Advance Facility
If someone has lost his job or has left and is looking for a new job during the time of Kovid, then he can withdraw money from his PF account, provided he has not made the final withdrawal from his account. That is, if you have made a final withdrawal from your PF account, then you will no longer be a subscriber of EPFO, in this case your provident fund will not be there. But if you do not have a job and your PF account is with EPFO, then you can take advantage of it.
EPF Members can now avail COVID Advance Facility even after leaving service. #EPFO #SocialSecurity #HumHainNa #PF pic.twitter.com/PjtQ0MVxJa
— EPFO (@socialepfo) June 14, 2021
KYC must be completed
Apart from this, another great thing is that your KYC must be completed to take advantage of this facility. You should first ensure that your UAN (Universal Account Number) is verified with your Aadhar card and your bank account details and mobile number etc. should also be linked to your UAN. If your KYC is not complete, then you will not be able to claim for advance.
