Unemployed because of the pandemic? EPF members can now BENEFIT from a non-refundable advance. Know the WITHDRAWAL process here


The Employee Provident Fund (EPF), also known as the Provident Fund (PF), is a government-supported scheme and is a mandatory deduction for employees. This is a fund to which the employee and the employer pay 10 percent of the employee’s base salary each month. Previously, this percentage was 12 percent for private organizations.

The employer and the employee deposit their contributions each month with the Employee Welfare Organization (EPFO). Generally, the accumulated amount or part of the amount in an EPF account can be withdrawn by the employee in the event of retirement or resignation.

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But witnessing difficult times for many, EPFO ​​has now authorized members to withdraw part of the sum in the event of a COVID-19 crisis or in the event of unemployment. Likewise, this amount can be transferred from one company to another in the event of a change in the employee’s job. The EPF account generates a return of 8.5 percent per year.

Members, who have been unemployed for a month or more, can now receive a non-refundable advance of up to 75 percent of the amount available in their PF account. EPFO recently tweeted that “Members who have not been employed for a month or more can receive a non-refundable advance of up to 75 percent of the amount available in their PF account.” The automatic settlement mode allows EPFO ​​to reduce the claims settlement cycle to just 3 days, unlike the legal obligation to pay claims within 20 days.

This facility will provide financial assistance to members during periods of unemployment and will also allow them to continue their affiliation after retirement, as their EPF accounts are not closed. This is a non-refundable advance and the person will not have to return the money withdrawn to their EPF account. The person eyeing a lead can apply online using their login on the EPFO ​​website.

Withdrawal process

Let’s see how you can withdraw money from your EPF account. All employees, EPF contributors, can request an advance from their EPF account.

In the event of withdrawal, the employee must use his universal account number (UAN), which the EPFO ​​issued to him. Keep in mind that your Aadhaar, PAN, and bank account should be linked to your UAN. Anyone wishing to withdraw may send a request to the Statutory Auditor to request an advance on their EPF account. Withdrawal can be made either by submitting a hard copy of the request or by submitting an online request.

Considering the current situation, it is preferable to submit an online application. After logging in, in the Online Services section, choose Complaint (forms 31, 19 and 10C). Then the following screen will appear with the person’s details and ask for the last 4 digits of the person’s bank account number. After verification, the person can click on Proceed with online complaint. Then the person can apply for a PF advance (form 31). The reason for an advance can be indicated as Unemployment. The person can enter the amount they need in advance, along with their address and a scanned copy of the bank check. Request for an Aadhaar OTP to verify. Fill in the OTP received on the registered mobile number. Submit the request.


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