EPFO withdrawal process: How to withdraw money from PF account online
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Employee Provident Fund Organization (EPFO) recently announced to let Provident Fund (PF) members withdraw money from their PF accounts as a non-refundable advance. The new EPFO withdrawal process was announced to provide some relief to people affected with the COVID-19 second wave and need emergency money for treatment. In simple words, EPFO members will now be able to withdraw money from their PF accounts providing COVID-19 as a reason. Also Read - Vaccinated? How to update COVID-19 vaccination status on Aarogya Setu app
Last year, the government of India amended Provident Funds Scheme, 1952 to allow members withdraw emergency money from the retirement fund stating COVID-19 as the reason. Previously, the government let members to withdraw money from their retirement money in instances such as illness, buying a house, among others. Also Read - Why smartphones must be classified as an essential product during COVID-19 lockdowns