EPF Withdrawal Update: EPFO Discontinues Covid-19 Advance Facility – Check Details | Personal Finance News

Earlier, Employee Provident Fund (EPF) account holders were allowed to withdraw money twice during the covid-19 pandemic. This option was first introduced during the first wave and extended with another advance during the second wave. EPFO subscribers, under this scheme could take non-refundable advance of up to three months basic wages and dearness allowances, or 75 per cent of their EPF account balance, whichever was less.

How to Withdraw Your PF Amount:

– Check Eligibility: Ensure you are eligible to withdraw your PF amount.

– Update Personal Information: Make sure your personal details are up-to-date in the EPF portal.

– Activate UAN: Activate your Universal Account Number (UAN) if it is not already activated.

– Fill Out EPF Form: Complete the EPF form for partial or complete withdrawal.

Note that full withdrawal is only allowed upon retirement or after more than two months of unemployment.

Here’s how to apply for a claim online:

– Log In: Access the member interface using your UAN credentials.

– Ensure Eligibility: Make sure you meet all service eligibility and KYC requirements linked to your UAN.

– Select Claim: Choose the relevant claim option.

– Authenticate: Verify your details using the OTP sent to your registered number with UIDAI.

– Submit Form: The online claim form will be submitted.

EPF is a government-supported program that provides retirement benefits to employees. It also allows for easy transfer of EPF funds between employers when switching jobs.