How to withdraw money from EPF account online due to COVID-19
Here's a simple guide on how to withdraw cash from an EPF account for COVID-related emergencies.
Published:Thu, January 20, 2022 9:00pm
By Meghna Dutta
The new COVID variant Omicron is milder but cases are still rising. And India recorded 3,17,532 new Covid-19 cases, 491 deaths in the last 24 hours, pushing the total death toll to 4,87,693, as per Ministry of Health stats released on Thursday.
As per the government, death as against active cases has been significantly lower in the third wave of the COVID-19 pandemic as compared to the previous wave. But the pandemic still has an impact on financial issues. To ease the financial troubles of the salaried class, the government has allowed withdrawing a certain sum of money from Employees' Provident Fund.
The announcement was made back in March 2020 with the government offering relief to small businesses that were facing a cash crunch during the pandemic. As per the amendment in EPF scheme rules 'a member can withdraw an amount equal to three months of basic salary and dearness allowance (DA) or 75 percent of the credit balance in the account.'
Notably, employees who contribute to EPF can apply for an advance from their EPF accounts. To withdraw money an employee would require a Universal Account Number (UAN) allotted by EPFO, and their Aadhaar, PAN, and bank account must be linked with their UAN.
Here's how to withdraw money from EPF account online due to COVID-19
-Login to the EPFO's website and under the tab 'Online Services', 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 'last 4 Digit' of the bank account number. Enter it and then tap on the Verify option. You'll then see a pop-up asking you to provide a 'Certificate of undertaking.'
-Once the verification is done, click 'Proceed for'. Then select 'PF advance (Form 31)' from the drop-down menu.
- From the drop-down menu, select 'Outbreak of pandemic (COVID-19)' as the reason for your withdrawal.
- Then mention the amount of advance required, provide the address and a scanned copy of bank cheque.
- You will get an OTP associated with your Aadhaar account
-Fill the OTP and submit your application.