The government has approved 8.1 percent interest to the employees under the Employees’ Provident Fund Organization (EPFO). This is the lowest interest rate in four decades. At the same time, EPFO gives many more benefits to its customers besides interest. One of the benefits is the non-refundable EPF advance, under which the EPF member is allowed to withdraw 75% of the outstanding EPF balance or three months basic salary plus dearness allowance (DA).
Here EPF dues can mean employees’ share, employer’s share and EPF interest can be withdrawn by the members. According to the information given on the EPFO website, the provident fund regulator claims that the non-refundable advance is received within three working days, but the online claim forms are filled correctly and the claiming member fulfills the eligibility condition. Are.
Who is Eligible for Non Refundable EPF Advance
EPFO has recently tweeted from its official Twitter handle and giving information that an EPF account holder should fulfill certain conditions to be eligible for non-refundable EPF advance. EPF members can take EPF advance for purchase or construction of housing loan/site/house/flat. Apart from this, change in the existing house, repayment of housing loan, illness of a family member, marriage of someone in the family, post-matric education of children, natural calamity, unemployment for at least one month, investment in senior pension insurance scheme etc. EPF advance can be taken on needs.
how to claim online
EPFO has informed on Twitter that EPF members can apply for non-refundable EPF advance through Unified Member Portal or UMANG App to avail various benefits.
To apply online, log in to EPFO portal or visit the link (unifiedportal-mem.epfindia.gov.in/memberinterface). Now go to Online Service Claims. Then upload the bank check leaf with your name written on it Now submit the form by clicking on ‘Submit’ option.
An EPFO member can claim this EPF withdrawal using his Android phone or smartphone by downloading the UMANG app. They can perform multiple tasks online by logging in to the UMANG app using the UAN and OTP received on the registered mobile number and entering the above.