EPFO Partial Withdrawal Limit: EPFO employees have got a big relief. EPFO has changed the withdrawal rules. Now the EPF withdrawal limit has been doubled. EPFO has changed the rules for withdrawing medical related advances.
EPFO Partial Withdrawal Limit
EPFO has given great relief to the employed. EPFO has changed the withdrawal rules. Now the EPF withdrawal limit has been doubled. EPFO has changed the rules for withdrawing medical related advances.
Earlier this claim limit was Rs 50,000 but now it has been increased to Rs 1 lakh. EPFO has given this information through a circular issued on April 16. As per the circular issued by EPFO now you can withdraw Rs 1 lakh.
New #epfo Rule: PF Holders Can Withdraw Up To Rs 1 Lakh For Medical Emergencieshttps://t.co/tnybCUrLmp
— ABP LIVE (@abplive) April 19, 2024
Form 31 required for withdrawal
EPFO has doubled the withdrawal limit under para 68J of Form 31. Form 31 of EPF is for partial withdrawal. This form is used for early withdrawal for many reasons. In this you can withdraw money to build a house, buy a house, get married and get medical treatment.
Para 68J of Form 31 is used to draw partial amount for treatment of illness. Under this, earlier you could withdraw only Rs 50,000, but now you can withdraw Rs 1 lakh.
Under what circumstances can a claim be made?
According to EPFO, account holders can use this money only for life threatening diseases. You can also withdraw money while the employee or his patient is hospitalized.
The employee must be admitted to a government hospital or any hospital affiliated to the government. At the same time, if you have admitted the patient in a private hospital, he will be examined first and then you can claim.
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