The central government allowed employees to withdraw advance funds from the Employees Provident Fund (EPF – Employee Provident Fund) just after the corona virus epidemic. The government had done this so that employees do not have to face the lockdown and cash shortage immediately thereafter. Employees who came under the ambit of EPFO also took advantage of this after the Central Government relaxed the rules.
However, the government granted this exemption for a fixed time. Now after September 1, the government’s exemption for withdrawing advance money from PF account has expired. In such a situation, you cannot withdraw money from the PF account under this scheme. However, employees still have the option to withdraw money from their PF account. However, this will not be under the exemption of advance withdrawal scheme by the government. Let us know what is the process of withdrawing money from PF account.
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– To withdraw money from Employees Provident Fund, first of all you have to go to the official website of EPFO and login. You can login with the help of your UAN and password. Remember that your PF account should be linked to Aadhaar.
– After login to this portal, go to Online Service and select Claim (Form-31, 19 & 10C).
In the next step, you will not be on Verify by entering bank account number. After this, there will be no again. Now go to Proceed For Online Claim.
– To withdraw funds online, choose PF Advance (Form 31). Now here you have to tell why you are withdrawing this amount. Apply after filling in the reasons and filling in the employee address.
– You have to submit a scan copy of the documents associated with the reason for withdrawing the money. To withdraw money from EPF account you also have to get approval from your employer / company.
After this, your money will be deposited in the bank account. A message will be sent about this to your registered mobile number. It takes a certain period of time to transfer money to a bank account.
Withdrawal of more than Rs 44 thousand crore
The figures released by the EPFO show that from the last week of March, 38,71,664 people have withdrawn more than Rs 44 thousand crore from the Karmachari Provident Fund. People have withdrawn Rs 44,054.72 crore. 7,23,986 employees have withdrawn about Rs 8,968.45 crore from 25 March to 31 August from Maharashtra itself. Labor Minister Santosh Gangwar said that these withdrawals also include claims related to Covid-19.
