New Delhi: The money deposited in your PF account is primarily a part of your retirement plan. Therefore, it is generally said that money should not be withdrawn from PF without any major requirement. However, the Provident Fund Organization facilitates withdrawal of its account holders. Some people take out loans against their deposits for some important works before retirement but after the second wave of epidemics and black fungus, EPFO facilitated that account holders can take non-refundable advances.
EPFO facilitates non-refundable advances
In March 2020, the EPFO provided account holders under the Pradhan Mantri Garib Kalyan Yojana with the facility that they could take non-refundable advances from their PF account due to financial constraints due to Kovid. On 31 May 2021, EPFO announced that account holders may also take another non-refundable advance. The rules for the second advance are the same as for the first non-refundable advance.
How can covid based withdrawals be made from PF
If you want to get it online, your universal account number should be linked to your Aadhaar, PAN and bank account. You then select the online service with UN and password and claim on Forms 31, 19 and 10C. You can then verify your bank account number. The reason for the withdrawal and the amount required will be paid. OTP will be received after uploading scanned copy of bank passbook or check. OTP will come to your registered number. After filing the OTP, your claim will be registered and after the process your requested amount will reach the bank account.