EPF withdrawal update: Employees can avail Rs 1 lakh as medical advance instantly, here is how

New Delhi: In wake of Covid-19 pandemic, the Centre has done many changes to alleviate the daily sufferings of common man, due to Covid-19 pandemic and subsequent lockdown.

In a bid to benefit the government servants, the Employees Provident Fund Organisation (EPFO) has made EPF withdrawal easy and more flexible from Provident Fund (PF) balance.

As per revised EPFO policy, the employees can avail Rs 1 lakh in funds as a medical advance. For this, they won’t be required to give any estimate or any details of the cost of hospitalisation for getting this monetary benefit.

Those employees covered under the Central Services Medical Attendant and Central Government Health Scheme (CGHS) can avail this benefit.

Recently, the EPFO had allowed subscribers to take out their PF money as non-refundable advance. This was done to help them brace up financially for tackling the Coronavirus. As per the rules, subscribers can take out PF fund from their account, citing Covid-19 as a reason.

Conditions and Step by step guide for withdrawing fund

1) For withdrawing Rs 1 lakh medical advance, the patient must be admitted in any Govt/PSU/CGHS empanelled hospital for treatment. If the patient is hospitalized in private hospital due to some emergency, he/she can appeal to the relevant authority for seeking relaxation in rules. They can also put request for reimbursement of the money, however the hospital will charge them the money upfront.

2) Family member of the patient would be expected to submit a letter, seeking medical advance in lieu of the ongoing treatment. The application may not have estimated expense of the treatment.

3) Medical advance of Rs 1 lakh, if and when approved, will direct the hospital’s account for the treatment process. This advance could be granted immediately or on some working day. For getting this medical assistance, the subscriber is not supposed to give details of his ailment and estimate of his expenditure.

4) If treatment cost is likely to exceed Rs 1 lakh, subscriber can apply for additional advance. For getting this additional grant, the subscriber or his family member would be required to submit receipt of the estimate for treatment, as prepared by the hospital.

5) The hospital bills should be submitted to the relevant authorities, maximum by 45 days of being hospitalized.