EPFO New Rules: If you are also employed then there is news of your benefit. Those employed by EPFO have got a big relief. EPFO has changed the rules for withdrawing money. Now the EPF withdrawal limit has been doubled. However, EPFO has doubled the amount to withdraw money for treatment. Let us tell you how much money you can withdraw now.
Can this much money be withdrawn from the PF account?
EPFO has changed the rules for medical-related advance withdrawal. Earlier this claim limit was Rs 50,000 and now it has been increased to Rs 1 lakh. This came to light from the circular issued on April 16. According to the circular issued by EPFO, now you can withdraw Rs 1 lakh.
Paragraph 68J allows EPF subscribers to seek advances for medical needs. These conditions include prolonged hospitalization, major surgery, and diseases like tuberculosis, leprosy, paralysis, cancer, mental illness, or heart disease.
Note that the updated provision does not require additional documentation such as a medical certificate, making the claim process easier for customers.
The maximum advance amount is determined based on the EPF member's basic salary, dearness allowance, personal contribution, and interest. It is known that apart from medical expenses, EPF customers can also withdraw money from their account for marriage, buying a house, repaying a loan or renovating the house.
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