: PF Rule Change : 

EPFO Members Can Withdraw Money Citing COVID-19

In a bid to help citizens amid the IInd Wave of novel coronavirus pandemic, the Employee Provident Fund Organization (EPFO) has allowed members to withdraw money from The Retirement Fund as a non-refundable advance. 

In March, 2020, the Central Government introduced a special provision under Pradhan Mantri Garib Kalyan Yojana (PMGKY) which would allow the EPF members to withdraw Basic Pay and Dearness Allowance (DA) of 3 Months or 75%  of their Provident Fund Money, whichever is lower as advance. Those who have already availed this service, can also apply for a 2nd advance, the Ministry said.

EPFO allows subscribers to withdraw non-refundable advance in certain cases like illness, buying a house etc. Now, individuals can withdraw money from their PF account, citing COVID-19 pandemic as a reason.

The EPFO will also settle COVID-19 claims within 3 days, the Ministry of Labour and Employment said . “Considering urgent need of members for financial support in these trying times, it has been decided to accord top priority to COVID-19 claims. EPFO is committed to settle these claims within 3 days of their receipt,” the statement mentioned.