GOVERNMENT RELAXES EPF RULES AMID LOCKDOWN DUE TO COVID19; STEPS LISTED TO CLAIM ONLINE!

In view of the deadly COVID-19 pandemic and subsequent lockdown, the government has amended the Employees' Provident Fund (EPF) scheme for subscribers to withdraw non-refundable advance. According to a new EPF rule, subscribers can withdraw 75 percent of balance or three months' wages, as non-refundable advance from their account. 

In a statement on March 29, the labour ministry asserted that the amendments to the EPF scheme came into force from March 28.

As per NDTV reports, to apply for EPF withdrawal online, the subscriber must have an active Universal Account Number (UAN) and the mobile number used for activating the UAN number. The UAN should be Know Your Customer (KYC)-verified by furnishing information such as Aadhaar, Permanent Account Number (PAN) and bank details. Or else, the subscribers can put a claim for withdrawal via EPFO's unified portal -- unifiedportal-mem.epfindia.gov.in. 

Below are few steps to initiate a EPF claim online:

Step 1: Login to the EPFO portal - unifiedportal-mem.epfindia.gov.in by using UAN and password. 

Step 2: Go to 'online services' and select 'claim' section.

Step 3: Verify the bank account number

Step 4: Upload a scanned copy of a cheque or the passbook

Step 5: You will be asked a reason for submitting the advance. Select 'outbreak of pandemic' as the reason on the option given. 

Step 6: Generate an Aadhaar-based OTP. Once the claim is processed, it will be forwarded to the employer for approval.