New Delhi: Ahead of the Diwali festival, the Employee Provident Fund Organisation (EPFO) has started transferring the interest on Provident Fund (PF) savings directly into the PF accounts of the subscribers.
If you have already received the PF interest and plan to withdraw your PF fund to spend amid the festivities, then you should know that the money can be transferred from PF accounts to bank accounts in a snap.
For transferring funds from your PF account to your bank account in a jiffy, subscribers will need to use the medical emergency facility. EPFO had introduced the medical emergency facility to allow subscribers to withdraw PF advance within one hour of the request.
Here’s how you can withdraw advance money from PF in one hour:
Step 1: Visit the official EPFO website which is www.epfindia.gov.in. Subscribers can visit unifiedportal-mem.epfindia.gov.in/memberinterface/ to withdraw PF funds in advance.
Step 2: Click on the ‘Online Advance Claim’ button.
Step 3: Visit the Online Service page and click on Claim (Form-31,19,10C & 10D).
Step 4: Enter and verify the last 4 digits of your bank account.
Step 5: Click on Proceed for Online Claim.
Step 6: Select PF Advance from the drop-down (Form 31) menu.
Step 7: In the next step, you need to choose the reason for which you’re taking the advance. You need to select the medical emergency option here.
Step 8: Enter the amount to be transferred (Up to Rs 1 lakh) and upload the scanned copy of the cheque.
Step 8: Click on Get Aadhaar OTP and enter the OTP received on Aadhaar linked mobile.
Voila, your request will be submitted with the EPFO. Since this is an emergency request, the organisation will release the advance from your PF account within one hour directly to your bank account.
However, there are certain terms and conditions for using the emergency medical advance facility. For instance, the patient should be admitted to a Government/Public Sector Unit/CGHS Panel Hospital for treatment. Also Read: PUBG: New State releasing on November 11; check details here
If the patient is admitted to a private hospital in an emergency, then an EPFO officer will first investigate the case before releasing the advance. Also Read: Centre tightening noose around inflation to push mustard oil prices down from February: Food Dept