PF account | According to the EPFO announcement, those who had withdrawn money from the EPFO account in the first wave of Corona are now allowed to withdraw money a second time. PF holders will be able to withdraw 75 per cent of the EPFO account or whichever is less than the basic salary and dearness allowance.
Mumbai: Due to the Corona crisis, the Employees Provident Fund Organization (EPFO) has taken several important steps for the employees. A few days ago, employees were allowed to withdraw 75 per cent of their provident fund (PF). EPFO then allowed PF holders to withdraw Advacne amount from their account. The special thing is that this amount will not have to be refunded. This will be a great help to PF holders in times of crisis. (EPFO 5 big decisions for PF account holders)
Five big decisions taken by EPFO?
- As per the announcement of EPFO, those who had withdrawn money from EPFO account in the first wave of Corona are now allowed to withdraw money for the second time. PF holders will be able to withdraw 75 per cent of the EPFO account or whichever is less than the basic salary and dearness allowance.
2. PF holders who have lost their jobs during the Corona period, who have been unemployed for more than a month, can withdraw 75 per cent from their account.
3. Insurance benefit under EPFO’s EDLI scheme has been increased to seven lakhs. Therefore, in case of untimely death of the PF holder, his successor will get Rs. 7 lakhs.
4. The deadline for linking EPFO account and Aadhar card has been extended till September 1. Companies will not be able to deposit money in the PF account if the Aadhaar is not linked to the EPFO account.
5. A person can withdraw advance from his EPFO account even after leaving the job.
Easily transfer PF from the old company
- First go to the EPFO Unified Member Portal https://unifiedportal-mem.epfindia.gov.in/memberinterface/. Login here with Universal Account Number (UAN) and Password.
- After logging in, go to Online Services and click on Member-One EPF Account Transfer Request option.
- In this you have to verify personal information and PF account.
- Then click on Get Details option.
- You will now have the option to choose between the previous employer and the current employer to confirm the online claim form. You have chosen this based on the availability of official signatory holding DSC. Choose one of the two owners and give the member ID or UAN.
- Then click on the Get OTP option. OTP will be sent to your registered mobile number. Then submit the OTP.
- Once the OTP is verified, the company will go for online money transfer process request.
- This process will be completed in the next three days. The company will transfer it first. EPFO field officers will verify this.
After placing the OTP, your company will be requested for the online money transfer process. The company will transfer the money first and then the field officer of EPFO will verify it. You can check your status on the track claim status to see if the transfer request has been completed. For offline transfer you will need to fill out Form 13 and give it to your old or new company.
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