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