How to withdraw PF money PF withdrawal rules : Have a Medical Emergency? EPF will give 1 lakh rupees in advance just 1 hour, is there a medical emergency? EPF will give advance of 1 lakh rupees in just 1 hour, know the rules
How to withdraw money from PF immediately in case of medical emergency?
- For medical needs, up to Rs 1 lakh can be withdrawn from PF immediately.
- No cost estimate is required.
- There are certain guidelines to be followed to withdraw advance.
There is good news for the EPF members if there is any medical emergency like being troubled by Kovid. A new facility has been extended for them. According to this facility, they can withdraw up to Rs 1 lakh from the EPF fund. Also, the borrowing members are not required to provide any cost estimate for the same. EPF is India’s social security scheme for those working with the organized sector.
The circular in this regard was issued by the Provident Fund Organization on June 1, 2021. Further, it has been said that an advance of Rs 1 lakh can be taken for sudden hospitalization due to any fatal disease including corono virus. Earlier also EPF came with such facility to withdraw money in case of medical emergency but it required an EPF member to provide cost estimate or was available only in the form of medical bill reimbursement.
There are some guidelines which need to be taken care of to withdraw Rs 1 lakh advance from EPF account, they are as follows:-
Medical advance will be available only if the patient has been admitted to Government/Public Sector Unit/CGHS empaneled hospital for treatment. If the patient is being treated in a private hospital or institution, then before increasing the advance amount, it will be verified by an EPFO officer.
The employee (EPF member) or his family will be required to provide such details as the treatment being availed, patient details and also that there is no cost estimation and medical advance should be provided.
The EPF member or his family can get the amount within 1 hour of applying at the time of hospitalization.
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