How to withdraw money from an EPF account online due to COVID-19
The new Omicron COVID variant is milder but cases continue to rise. And India recorded 3,17,532 new Covid-19 cases, 491 deaths in the past 24 hours, bringing the total death toll to 4,87,693, according to Health Ministry statistics released on Thursday. Also Read – Over 40 Crore Aadhaar Based Banking Transactions Happen Per Month Through AePS: UIDAI
According to the government, deaths compared to active cases were significantly lower during the third wave of the COVID-19 pandemic compared to the previous wave. But the pandemic still has an impact on financial matters. To appease the financial difficulties of the salaried class, the government authorized the withdrawal of a certain amount of money from the Employees Provident Fund. Read also – Do you want to change your address in the Aadhaar map? Here’s how to do it online
The announcement was made in March 2020, with the government offering relief to small businesses facing a cash flow crisis during the pandemic. According to the amendment to the rules of the EPF scheme, “a member may withdraw an amount equal to three months’ basic salary and dearness allowance (DA) or 75% of the credit balance of the account”. Read also – EPFO e-nomination deadline extended: here’s everything you need to know
In particular, employees contributing to the EPF can request an advance on their EPF account. To withdraw money, an employee would need a Universal Account Number (UAN) assigned by EPFO, and their Aadhaar, PAN and bank account must be linked to their UAN.
Here’s how to withdraw money from an EPF account online due to COVID-19
-Log on to the EPFO website and under the ‘Online Services’ tab, choose the option ‘Claim (Form-31, 19 and 10C).’
-It will then display your name, date of birth and the last four digits of your Aadhaar number, and you will be asked to enter the “last 4 digits” of the bank account number. Enter it and then tap on the Verify option. You will then see a pop-up window asking you to provide a “Certificate of Commitment”.
-Once verification is complete, click ‘Continue to’. Then select “PF advance (Form 31)” from the drop-down menu.
– From the drop-down menu, select “Pandemic outbreak (COVID-19)” as the reason for your withdrawal.
– Then mention the amount of the advance requested, provide the address and a scanned copy of the bank cheque.
– You will get an OTP associated with your Aadhaar account
-Complete the OTP and submit your application.