Need some extra cash during the 21-day coronavirus lockdown? To help the salaried class tide over the economic crisis during the shutdown, the Employees’ Provident Fund Organisation (EPFO) has now made the highly-contagious pandemic another reason to allow subscribers to withdraw funds.
The labour ministry issued a notification yesterday amending the EPF withdrawal rules in which all its 6 crore subscribers are allowed a non-refundable advance during the coronavirus pandemic. The withdrawal amount cannot be more than your basic salary and dearness allowance (DA) for three months or up to 75% of your PF account balance, whichever is lower to face the financial troubles caused by the coronavirus pandemic and the nationwide lockdown until April 14.
PF withdrawal requests can now be submitted online by subscribers.
Here are the ways to withdraw PF money -:
Visit EPFO website
To withdraw PF money, one has to provide the UAN number which can be obtained from the employer.
The withdrawal process becomes simpler and less time-consuming if you have your Aadhaar number with you. Here is how you can initiate the withdrawal for both, with and without Aadhaar.
If you do not have an Aadhaar, but have the PF number, use form – Composite Claim Form (Non-Aadhaar).
You will have to furnish the Permanent Account Number (PAN) number if the total service period is less than five years and also attach two copies of Form 15G/15H, if applicable. In case the Universal Account Number (UAN) is not available, you can mention only the PF account number.
You can submit a Composite Claim Form (Aadhaar) directly to the concerned EPFO office without attestation of the claim form by the employers. The payment of the PF balance will be sent to your bank account, so attach a cancelled cheque along with the form.
Before proceeding, ensure these things: You have submitted complete details in Form11 (New) to your employer, Aadhaar card number and bank account details are available on the UAN portal, and the UAN has been activated.
After providing all the details, you also have to provide a scan copy of your cheque and certify all details mentioned are correct.
PF amount will be credited to account within 10 days of approval.