PF Withdrawal Limit: You can Withdraw this much Money from PF for Medical Emergency, know how
2 min read
PF Withdrawal Limit For Medical Treatment: Are you also facing a medical emergency? If you need money immediately, you can withdraw money from your Employees’ Provident Fund (EPF) account.
The Employees’ Provident Fund Organization (EPFO) allows its members to withdraw money to deal with expenses like medical emergency, house construction, marriage, education, home loan etc.
– Advertisement –
What is Employees Provident Fund (EPF)?
Employee Provident Fund (EPF) is a retirement saving scheme. In this, a part of the salaried employees is deposited in EPFO every month. Employers also contribute to this fund. This deposited money is given to the employees at the time of retirement. By then it becomes a big fund. EPF can be used even during the job.
Limit for withdrawing money from PF for medical emergency
EPFO members can withdraw up to Rs 1 lakh in case of hospitalization in a medical emergency or life-threatening situation. Earlier, this amount could be withdrawn on the basis of the estimate given by the hospital. Now its limit has been kept at Rs 1 lakh. A member’s 6 months’ basic and dearness allowance (DA) or the member’s contribution and interest received on it, whichever is less, can be withdrawn.
Also Read: NCRTC and DMRC launch Integrated QR-ticketing system for Seamless Travel
This is how you can withdraw advance from PF
Visit EPFO e-Sewa portal :
Log in : Enter your Universal Account Number (UAN), password, and captcha code.
Enter bank account details: Click on Verify and accept the terms and conditions.
Online Service: Click on Online Service link and select Claim Form-31 for the illness.
Claim: Click on ‘Proceed to Claim Online’.
If the patient has been discharged from the hospital, then the employee has to submit the medical bill to EPFO within 45 days so that it becomes easier to withdraw money from PF and avail the benefit of the service.
Related Article:-
Employees Regularization: Process of Regularization of Contract Employees Started, Ordinance also issued
CBDT: Govt is Keeping an Eye on Cash Transactions of More than This Amount, CBDT gave Special Instructions to the Tax Department
7th Pay Commission implemented! Govt has announced an increase in the salary of these employees under the 7th Pay Commission
– Advertisement –
About Author
