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Saturday, April 18, 2020

Withdrawal 75% or 3 months of basic salary from your EPF A/C & Govt. will pay 3 months of your PF amount.


EPFO withdrawal
GOI Package for EPFO panedemic new rule

Know the procedure of partial withdrawal of amount from your EPF account in lockdown period.
Good News for all EPF account holder that Government of India given some relaxation under (Prime Minster Garib Kalyan Package) that now you can withdraw partial amount from your EPFO account.


Highlighted key feature herewith:

  • You can withdrawal maximum 3 months of yours basic salary or 75 % of your total EPF account balance amount whichever is less under pandemic (Covid-19) claim.
  • Partial withdrawal amount will be free from income tax deduction.
  • You can Apply Online and withdrawal amount will be credited in your account within three working days.
  • Last date for this relaxation or partial withdraw of amount is 30th Jun 2020.
  • Govt will pay next three month PF contribution of both employees & Employer side, those employees salary or earning below 15000.00 a month.


Now understand in details as per discussed with HR & Finance Expert Mr. Manish;


In order to reduce the economic difficulties of the working class  in the Lockdown period , the government has made new provisions regarding partial withdrawal from the EPF (Employees Provident Fund) apply till date 30th Jun 2020 . Accordingly, any account holder who is in a job in which EPF is deducted by employer and submitted at his EPF account can withdraw a maximum salary of three months basic salary from his EPF account (including the dearness allowance if it is added) or a maximum of 75% of his existing PF balance, whichever is lower in which account holder amount and employer in PF balance Contribution also added on it.
Let us understand this with an example. Suppose the PF balance of an account holder is Rs 60,000.00 and his basic salary plus DA is Rs 16,000.00 per month. The maximum 75 percent of his PF balance is Rs 45,000.00, while the amount for three months is Rs 48,000.00 according to his monthly salary. This way the account holder can withdraw a maximum of Rs Rs 45,000.00 only.
The account holder may withdraw less than the maximum amount as per your requirement but only one time. It also has a feature that the amount you withdrawal is not as like loan and not need to refund it back .Also, the partial withdrawal amount is tax-free, that is you are not liable for paid any kind of tax on it.

Before applying please confirm the below mention formalities;


In this situation of lockdown, the account holder can apply for it online. The withdrawal amount will be credited to your bank account within three working days. But online claims can be made by the that account holders, who’s  UAN number is active, the verified Aadhaar number is linked with the UAN and the bank account number is linked to the UAN number with the IFS code.
There is also a problem with many members that there is a difference between their Aadhaar Card and the date of birth mentioned in the EPFO records. In such a situation, the EPFO has issued a new guideline, according to which the date of birth mentioned in the Aadhaar card will now be accepted as valid proof for correction. However, the difference in both birth dates should be less than three years. Here one more facilitate that now account holder directly go to Unified Member Portal (epfoindia) and easily moderate/rectified their date of birth according to EPFO records online. Because now EPFO will be able to verify instant online birth date with UIDAI.

Procedure for online claim/EPF Withdrawal?


Go to this link (https://unifiedportal-mem.epfindia.gov.in/memberinterface/), visiting the member interface of the Unified Portal. Login with your account details i.e. UAN number and password.
Next go to the Online Services tab and select Claim (Form 31,19,10C & 10D) from the drop down menu. Member's details and KYC details will be seen on the claim screen here. Now you will have to enter the last 4 digits of your bank account and verify your bank account.
After this, click on 'Proceed for online claim' and select PF Advance (Form 31) in the drop down menu. Purpose in the drop down menu after this Select COVID-19. Then enter the amount.
Now you will be asked to upload a scanned copy of your bank check. After that your address has to be entered. Then via base OTP
The request from must be validated. Once validation of OTP, submit the application. After this the application will go to the field office and after being processed from there the claim amount will be deposited in the account within three working days.


Government of India relief package for Employer & Employees :


Government of India announces that they will pay three month PF contribution for Employer & Employees If 90% of employees getting salary less than 15000.00 a month.
Under this package Govt. has to pay 24% of employee’s monthly salary on their PF account for three months (April, May & June).
Government allotted total 500.00 crore for this purpose.


Frequently Ask Question (FAQ):


Ques : How long is Epf Challan valid for payment ?

Ans : There are two type of challan generated ECR l & ECR ll.
The Validity of ECR l if 15 days from the date of date of generation but in ECR ll there is not validity means ones you confirmed through digital signature it will be saved on portal.


Ques : EPF Nomination & Declaration form in Hindi.
            EPF Nomination Form Process.

Ans : Please click the following link for nomination process & download forms.




Ques : EPFO office open or not now days& EPFO office will open on 14 April or not.

Ans : EPFO office Open but in lockdown period only essential work is on process therefore advise to you also please call toll free no. of EPFO if you urgent need and if it is not essential please do your work online.


Ques : EPFO assistant vacancy listReview of EPFO exam 2019, EPFO assistant exam reviews.

Ans : Please click the following link for latest recruitment, vacancy & EPFO Exam related Notification & download circular.




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