New Delhi: The Employees Provident Fund Organisation (EPFO) is beneficial for millions of account holders but it’s not easy to withdraw money from EPF account during emergency. However, the new rule announced by the government is going make the process fast and simple.
As per the new rule, one can withdraw a lumpsum amount of Rs 1 lakh without any paper work. It is a big development for anyone who faces medical emergency or a life-threatening disease.
However, the latest development comes with certain conditions that one has to follow if he wants to enjoy the benefits and withdraw money from PF. Let us find out those conditions.
1) One will have to opt for Government Hospital/ CGH Panel Hospital.
2) An investigation will done before approving the amount if anyone goes to Private Hospital.
3) One is required to fill the application form on the working day to get the amount on the very next day.
4) Under the new memorandum, one also gets an option to receive the money in owns account or the hospital’s bank account.
Following this one has to complete the process to withdraw Rs 1 lakh from PF Account.
However, you not need to worry regarding the process because here we provide the complete process for your convenience.
1) Type www.epfindia.gov.in to reach the official website
2) Now, click on ‘Online Services’
3) Fill the forms 31, 19, 10C and 10D
4) Next step is to verify your bank account by entering the last four digit of the account number
5) Click on ‘Proceed for online claim’
6) Go to the drop-down menu to select form 31
7) Give your reason to withdraw money
8) Enter the amount and upload a copy of the hospital bill
9) Before final submit enter your address
We are hopeful that our effort to provide the mentioned details will help you to get the new benefits at ease.
