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PF Money Transfer: Nowadays the cases of Kovid are increasing again. In such a situation, people are again worried that if due to corona or any other disease they had to be admitted to the hospital or if money is needed for one’s own hospitalization, then where will the money come from. The central government has given a facility to the people for such a situation, about which they are not aware. Here you can know about it.
How to get up to Rs 1 lakh in 1 hour
In view of the need in emergency, you can now withdraw up to Rs 1 lakh from your Employee Provident Fund on an urgent basis. Let us inform that the government had issued a circular on June 1, 2021 that if the EPFO (Employee Provident Fund Organisation) members want to withdraw money from their provident fund for medical emergency, then they can withdraw up to Rs 1 lakh i.e. Partial Withdrawal from PF. can do.
what is this facility
In case of any medical emergency, medical advance up to Rs 1 lakh can be withdrawn from the PF account. After withdrawing the advance amount from PF, the time of arrival of this amount in the bank account was 3 to 7 days, which was reduced to 1 hour. The government had changed the rules in June so that for medical emergencies including Kovid hospitalization, money up to Rs 1 lakh can be withdrawn from the PF account.
No need to pay any bills
Under this facility, you do not need to submit any bill while applying. You have to apply for medical advance from PF and in 1 hour the money will be transferred to your registered bank account. Although the facility of withdrawing money from PF at the time of medical emergency was also there earlier, but for this you had to deposit bills which are not to be done now. After the discharge of the patient, bills and receipts have to be submitted under the process.
How to withdraw money from EPF – Know here step by step process
- On the home page of www.epfindia.gov.in website, click on Online Advance Claim in the top right corner.
- You have to open this link https://unifiedportalmem.epfindia.gov.in/memberinterface.
- Go to online services and after that claim (Form-31,19,10C & 10D) has to be filled.
- Enter the last 4 digits of your bank account and verify
- Click on Proceed for Online Claim
- Select PF Advance from the drop down (Form 31)
- Choose your reason. Enter required amount and upload scan copy of check and enter your address
- Click on Get Aadhaar OTP and type OTP received on Aadhaar linked mobile
- PF claim money will come within an hour of your claim being filed and accepted.
Things to keep in mind related to getting PF advance up to Rs 1 lakh
This medical advance can be for the PF account holder or his family members. The patient should be admitted to a Government or Public Sector Unit (PSU) or a hospital listed on the CGHS panel. If admitted in a private hospital, then the concerned authority will look into the matter and will allow withdrawal of PF advance after considering the application sought for it.
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