To meet the need of money in the Corona crisis, the government has given the facility of non-refundable COVID Advance. With this, the PF account holder can withdraw money in advance.
Relief to PF account holders
Employees Provident Fund Organization (EPFO) has taken a big initiative to provide relief to the employees in this difficult period of Corona period. Under this, if the subscribers need money, they can withdraw 3 months deposit in advance in their PF account. Last time also, the government had given the facility of taking advance to EPF subscribers.
For the second time, non-refundable COVID advance payment facility is being given to PF employees by EPFO. Under this, individuals can withdraw 75% of the amount deposited in the PF account or an amount equal to three months’ salary (basic and DA), whichever is less. In this connection, the Labor Ministry has issued a release today.
Relief given to avoid epidemic outbreak
The purpose of providing advance payment payment is to avoid corona epidemic and the problems caused by it. The people whose work has been affected due to Corona, as well as the expenses have increased. Due to which there is no problem of money in dealing with this, the government has given the facility to the PF employees to withdraw the advance amount.
Those with less than 15 thousand salary took advantage
The benefit of COVID-19 Advance was also given last year. It was mostly used by those members whose monthly salary was less than Rs 15,000. So far, about 76.31 lakh employees have taken the COVID-19 non-refundable advance. He has withdrawn Rs 18,698.15 crore as advance.
Try to send money to account in 3 days
During the pandemic, the process of withdrawing money does not take much time, so that the EPFO is making a lot of efforts. Teams have been formed to expedite settlement of the claims of the members. So that the money reaches the person’s account within 3 days of the application.
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