EPFO Ends Covid-19 Advance Facility for EPF Withdrawals – Details Inside

It has been stated that the Employees’ Provident Fund Organization (EPFO) would no longer be offering Covid-19 advances. “The competent authority has decided to discontinue the said advance with immediate effect as COVID-19 is no longer a pandemic,” the EPFO stated in a statement. All trusts falling under your respective jurisdictions may be informed of this since it will also apply to the exempted trusts.

Before the COVID-19 epidemic, holders of Employee Provident Fund (EPF) accounts were permitted to take out money twice. In the first wave, this option was presented, and in the second wave, it was further developed. Under this policy, EPFO members may get a non-refundable advance of up to 75% of their EPF account balance, or up to three months’ worth of basic pay and dearness allowances, whichever was less.

How to Withdraw Your PF Amount

• Verify Your Eligibility: Make sure you are qualified to get your PF withdrawal.
• Update Personal Information: Verify that the EPF portal contains the most recent version of your personal information.
• Activate UAN: If it hasn’t been activated before, activate your Universal Account Number (UAN).
• Complete the EPF Form: To make a partial or full withdrawal, fill out the EPF form.

Keep in mind that you may only take your whole balance upon retirement or following more than two months without work.

Here’s How To Apply For A Claim Online

• Sign in: Get into the member interface with your UAN login details.
• Verify Eligibility: Verify that you fulfil all KYC and service eligibility criteria associated with your UAN.
• Select Claim: Pick the appropriate claim entry.
• Authenticate: Confirm your information using the OTP that was provided to the phone number you registered with UIDAI.
• File Form Submission: The online claim file will be filed.

Employee Provident Funds (EPF) is a government-backed scheme that offers retirement benefits to workers. Additionally, it makes it simple to move EPF money across companies while changing employment.