EPF withdrawal: The Employees’ Provident Fund Organization (EPFO) is allowing its customers to withdraw non-refundable advances from their Employees’ Provident Fund (EPF) account, subject to certain conditions.
As per EPF rules, an EPFO member can withdraw 75 per cent of the outstanding EPF balance or three months basic salary plus dearness allowance (DA), whichever is less.
Here, EPF dues mean employees’ share, employer’s share and EPF interest. In the FAQs available on the EPFO website, the provident fund regulator states that non-refundable EPF advance can be taken provided the online claim forms are filled correctly and the claimant fulfills the eligibility condition.
EPF Non-Refundable Claim: Eligibility Conditions
EPFO has recently tweeted from its official Twitter handle and informed that an EPF account holder has to fulfill certain conditions to become eligible to claim non-refundable EPF advance.
Those conditions are – purchase/construction/addition of housing loan/site/house/flat, modification of existing house/repayment of housing loan, illness of EPFO member of his family member, marriage of self, son, daughter, brother or sister , post matric education of children, natural calamity, unemployment for at least one month, investment in senior pension insurance scheme, etc. Advance will be available under these conditions.
How to claim non-refundable EPF advance online
According to the EPFO’s tweet, ‘#EPF members can apply for non-refundable EPF advance through Unified Member Portal or UMANG App to avail various benefits.’
#EPF #Members can apply for Non-refundable EPF Advance through Unified Member Portal or #UMANG App, to avail various benefits.#EPFO #Services #Employee #SocialSecurity #AmritMahotsav @AmritMahotsav pic.twitter.com/ws3aB1294f
— EPFO (@socialepfo) June 2, 2022
