The second wave of Kovid-19 spread rapidly and a large number of people have to be hospitalized. In such a situation, you can afford this treatment with EPF money.
The way the second wave of Kovid has spread has uncontrolled the situation in the whole country. The second wave of Corona virus is proving more dangerous and due to this, people are being admitted to hospitals on a large scale.
Presently, due to the huge cost of treatment, it is also posing a big economic challenge in front of many people. Many times the cost of treatment goes above the health insurance policy amount of the people. Especially if the elders of the household are not covered in health insurance, then you have to arrange the treatment money for them by your own means.
You will get a big relief from EPF
At such a time, you can get Kovid’s treatment by borrowing money on your salary. If you are an Employee Provident Fund (EPF) subscriber, there is not much to worry about because the government has given this facility to all EPF members. EPF members can also take a loan on their PF account or withdraw money from their account for the treatment of Kovid.
The special thing is that this loan will be non-refundable and employees will not have to put funds in their EPF account.
At a time when lockdowns have been imposed in many places in the country, this withdrawal facility will provide great relief to the employees. Even if you have another debt pending, you can apply for treatment of Kovid-19.
For what purposes can I withdraw money?
The EPFO has set certain conditions for employees to withdraw money.
For example, according to the terms of the Employees Provident Fund Organization (EPFO), employees can withdraw money for treatment, purchase of a new home or for construction, home renovation, home loan repayment and marriage. You can withdraw up to 90 percent money from a PF account to buy land or a house for a house.
Those who want to withdraw money for the purpose of Kovid Treatment can withdraw money from EPF account in case of medical emergency for spouse or member or parents or children. There is no lock-in period or minimum service period applicable to this EPF withdrawal.
Withdraw money from PF account in this way
For the treatment of Kovid, you have to suffer in hospitals like that, in such a situation, EPFO is giving you the convenience that you can give an application to withdraw money online.
For this, you have to login by visiting the website https://unifiedportal-mem.epfindia.gov.in/memberinterface/.
After this, you have to click on the option of ‘Manage’. After this, you have to go to the section of ‘Online Services’ and click on the option of CLAIM (FORM-31, 19 and 10C). To submit your claim form, you have to click on the option of ‘Proceed For Online Claim’. After this your application will be submitted.
Check this information
The details of the employee’s bank account must match his EPF account.
Remember that EPF withdrawal funds will not be transferred to a third party bank account.
It should be ensured that the father’s name and the date of birth of the employee must be clearly matched with the proof that the employee is depositing.
