Employee’s Provident Fund Organisation or EPFO has made a withdrawal easier from the Provident Fund for medical and other purposes like education, Purchase of house and Marriage of children. There is no requirement to submit various certificate or documents by the subscriber. EFPO can be seek by the subscriber by withdrawal from their EPF (Employee Provident Fund) account on many grounds by using a composite form along with a self-declaration.
10 Things you should know for EPFO:-
1) The latest move of EPFO’s is to ease the withdrawal process will nearly benefit Rs. 4 crore subscriber
2) The advance can be seek by the subscribers from the fund for treatment of illness in few cases which includes Hospitalisation lasting for more than a month or hospital in major surgical operation. In case they are suffering from TB, Paralyse, Leprosy, cancer, and heart ailment.
3) The members earlier required to submit a certificate from a doctor of the hospital that the member has been hospitalised or required hospitalisation for more than a month.
4) The change in EPFO laws now a member would not require to submit any medical certificate or documents.
5) EPFO subscriber can withdraw up to six months of salary, for medical purpose.
6) The number of steps is been taken by EPPO to withdrawal rules. It allowed subscribers recently to withdraw 90% of their funds for Land or Home purchase.
7) Withdrawal of the Partial provident fund is also allowed for post-matriculation education of children and marriage purpose.
8) The subscriber is now only required to submit a self-declaration, for various withdrawal purpose. Which
add in a claim form, so can avail the advance from provident fund.
9) Subscribers who have seeded their UAN (Universal Account Number) with Aadhaar and bank account details can submit claim forms directly to EPFO without the attestation of employers. A universal account number allows provident fund number portability.
10) Aadhaar has not been seeded, the attestation of employers is required.