PF (provident fund) withdrawal for medical emergency rule changes. read the description

PF (provident fund) withdrawal for medical emergency rule changes.  read the description

Withdrawal of PF (provident fund) for medical emergency. description

The Employees’ Provident Fund Organization (EPFO) allows its members to withdraw a part of their provident fund in case of medical emergency and hospitalization.

While earlier, evacuation could be done only after the hospital provided an estimate, the rules were amended last year.

Now, EPFO ​​members are allowed to draw a one-time medical advance up to ₹1 lakh without the need for an estimate from the hospital or document.

This facility can be availed only by employees covered under CS(MA) rules or Central Government Health Scheme (CGHS).

The evacuation can be done for patients admitted to a government or public sector unit (PSU) or a CGHS-listed hospital for treatment of the disease. In case of private hospital, background check will be done by the competent authority of EPFO ​​before final disbursement.

How to withdraw PF money for medical emergency:

Log on to EPFO ​​portal

Log in to your account by submitting your Universal Account Number (UAN) and Password before verifying the captcha details.

– Go to the “Online Services” tab, and click on the “Claim” option.

– You will be redirected to a new page wherein you will need to verify your bank details linked to UAN

– Read the terms and conditions carefully and share your acceptance.

– Now, click on “Proceed for Online Claim” and select “Medical Emergency” from the withdrawal application options.

– If the withdrawal application is submitted on the working day, the payment will be made by the end of the next day.

At the discretion of the family members, the sanctioned amount can be withdrawn either to the salary account of the EPFO ​​member or to the hospital concerned where the treatment is being done.

If the patient has already been discharged from the hospital, the employee has to submit the medical bill with EPFO ​​within 45 days to avail the facility of PF withdrawal.

Employees can easily withdraw their PF online for other reasons as well. This can be facilitated through the member e-SEW portal of EPFO.

Employees can withdraw their entire savings in PF after retirement. However, even before retirement, they can withdraw a partial amount if they meet certain criteria.

Important Points for Provident Fund Withdrawal

It is mandatory to link your Aadhar card with Universal Account Number (UAN) to deposit money in PF account. It can be done online through EPFO ​​website or also through UMANG mobile app.

It is also important to complete the “Know Your Customer” or KYC formalities before withdrawing PF.

PAN card is required for KYC and EPFO ​​after completing the process gives “Verified” status to the PF account.

You can cite these reasons for withdrawing PF money:

– Housing loan for construction or purchase of house. For this you have to be in service for at least 60 months.

– For self, children, marriage of siblings or post-matriculation education of children. Minimum 84 months of service is required for this claim to be accepted.

You can withdraw up to 90% of your PF money one year before retirement. But your age should be above 54 years.

You can use a part of your PF money for medical expenses, natural calamities, purchase of equipment by the disabled, closure of factories, power cuts in establishments.

Important Steps to Withdraw Provident Fund

Visit the UAN portal

Log in using your UAN and Password and enter the captcha for verification.

Now go to the ‘Online Services’ tab and select ‘Claim (Form-31, 19 & 10C)’ option from the drop-down menu.

On the next screen, enter your bank account number and click ‘Verify’.

Now click on ‘Yes’ and proceed.

Then click on ‘Proceed for Online Claim’.

Now in the claim form, select the claim you need under the ‘I want to apply for’ tab.

Select ‘PF Advance (Form 31)’ to withdraw your funds. Then provide the purpose of such advance, the amount required and the employee’s address.

Now, click on Certificate and submit your application.

You may be asked to submit scanned documents for the purpose for which you have filled the form.

After the employer approves the withdrawal request, you will receive the money in your bank account. It usually takes 15-20 days for the money to be credited to the bank account.

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