Thursday, December 1, 2022

EPFO: Don’t be sad if you lose your job! Even after this, Covid Advance will be available, know the rules

PF Covid Advance: To fight the corona epidemic, the government has given the facility to the employed people to take EFP Covid Advance. Now there is another relief news for 6 crore EPF subscribers. This can be taken advantage of even when someone has lost his job. 

Covid advance will be available even after job loss

The Employees’ Provident Fund Organization (EPFO) has given permission to take advantage of Covid Advance even after the member leaves the job. According to this relief given by EPFO, if a member has lost his job, and he is still looking for a job, then during this time, he can withdraw some part of the PF fund as Covid Advance. This money member will not even need to return the PF account.

Will get this amount

The EPFO ​​has specific PF advance rules, forms, and procedures for availing of such advances, including COVID-19. The employee can withdraw PF for 3 months up to the amount of basic salary and dearness allowance or up to 75 percent of the member’s deposit in the EPF account, whichever is less. PF balance includes the contribution of both the employee and the company. Interest received on his contribution is also included in this.

Read More: Horoscope 8 September 2021: These 5 zodiac signs will get good news on Wednesday

How will the application

To apply for PF advance, the employee can do this work by logging on to the website of EPF India, as well as applying through the portal from his phone. Most importantly, even if you have taken PF advance earlier for medical or any other needs, you can still take this advance. EPFO has said that any advance received under the EPF scheme is not subject to income tax. 

KYC update required

However, if one is still not able to take PF advance, then it can be a matter of KYC update along with many other issues. This means that the KYC of your account may not be updated, due to which your advance is getting stuck. If you are applying for PF advance online then it can be done only, but for this your UAN, Aadhaar must be linked and your bank account KYC and mobile number should be linked with UAN. If this is not done, then you will have to update your KYC by submitting your KYC on the member portal.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Latest

Corona Alert: Be alert.. Another wave of corona coming? This report brought about the whole world

Covid-19New Wave: Another horrific Corona report has surfaced. According to the article, more cases will be reported worldwide in the coming months. From now...

WHO warns about new variants of Coronavirus, told how dangerous it will be

WHO warns about future variants of Covid-19: Coronavirus infection is increasing continuously in many countries around the world including India and in the meantime,...

Is this India’s fifth Monkeypox case? Patna woman suspected of infection has ALL symptoms

Patna: On Tuesday, the Bihar Health Department discovered a possible case of monkeypox in Patna's Gurhatta neighborhood. The victim is a woman, and a...

Covid-19: Corona raised concern, number of active patients in the country crossed 1.32 lakh, 45 people died

Concerns among the populace have been rekindled by the rise in the number of active corona patients in the nation. According to information provided...

Coronavirus 4th Wave: Omicron, the dangerous variant of Corona, has changed form again, know how much danger is there for India

Covid-19 Omicron Sub-Variant BA.2.75: Amidst the increasing infection of the coronavirus, the Omicron variant has once again changed its form, and a new sub-variant...

Most Popular

Subscribe

* indicates required