Good News! EPFO Allows Withdrawal Of Rs 1 Lakh In Case Of Emergency. Complete Process Here

EPFO News: In case of a life-threatening disease, the person can withdraw Rs 1 lakh for hospitalisation under the Medical Advance Claim. without paperwork.

Published: January 10, 2022 11:56 AM IST

By India.com Business Desk | Edited by Raghav Aggarwal

EPFO Medical Advance Claim withdraw 1 lakh from provident fund account
EPFO: The person will receive the money on the very next day if the withdrawal application is filed on a working day

New Delhi: Withdrawal of money from your provident fund is no longer a cumbersome process. According to a new rule by EPFO, under the Medical Advance Claim, you can withdraw Rs 1 lakh from the provident fund. The subscribers can withdraw the amount without any paperwork.

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In the case of a medical emergency, this can prove to be beneficial for millions of account holders under the EPFO. According to the latest memorandum, in case of a life-threatening disease, the person can withdraw Rs 1 lakh for hospitalisation. But there are certain conditions for the same.

What Are The Conditions For Withdrawing Money From PF?

  • The person must be admitted to Government Hospital/ CGHS Panel Hospital.
  • In the case of a Private Hospital, an investigation will be done before allowing the withdrawal.
  • If an application is filed on a working day, the money will be transferred on the very next day.
  • The money can be transferred to the employee’s personal account or the hospital’s bank account.

Complete Process To Withdraw Rs 1 Lakh From PF Account

  1. Go to the official website www.epfindia.gov.in
  2. Click on ‘Online Services’
  3. Fill the forms 31, 19, 10C and 10D
  4. Now, enter the last four digits of your bank account to verify
  5. Click on ‘Proceed For Online Claim’
  6. Select Form 31 from the drop-down menu
  7. Enter the reason to withdraw money
  8. Enter the amount and upload a copy of the hospital bill
  9. Enter your address and click on ‘Submit’

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Published Date: January 10, 2022 11:56 AM IST