EPFO Launch New Service: We are passing through the era of corona epidemic, we do not know when money is needed. In such a situation, it is always beneficial to have information about some remedies.
Like EPFO is giving a lot better facility to its subscribers. If you need money then you can withdraw money from your PF account in just one hour. You read it absolutely right, now you can withdraw one lakh rupees from your advance PF balance. Let us know that if you need money in an emergency, then how can you take advantage of this facility.
EPF members can immediately withdraw an advance of Rs 1 lakh from their PF balance in case of any sudden medical emergency. For this they will not need to give any kind of cost estimate. On June 1, EPFO had issued a circular, in which it has been told that this medical advance of Rs 1 lakh will be given in case of sudden hospitalization for the treatment of any other kind of life-threatening diseases including corona.
This new facility has been started for the members of EPF, in which you will get Rs 1 lakh as soon as you are admitted to the hospital. Even earlier, EPFO can withdraw money from EPF at the time of medical emergency. But for this you have to deposit the medical bill. Earlier, EPFO had allowed advance to be taken from EPF account for medical emergency.
But, this amount was available on the basis of cost estimate or only after reimbursement of medical bills. But this medical advance is completely different from this. For this, the EPF member does not need to show any bills or estimated expenses.
