As the corona virus outbreak is humongous and the pandemic has reached from China to almost 175 countries out of 195 countries in total. The govt. Of India Has taken necessary steps to prevent and minimise the effect of it by lock down and enhancing the Medical facilities, the Employees Provident fund and Miscellaneous act with the help of Govt. gareeb kalyan scheme is working upfront.
Before that we should what is Employee Provident fund Act ?
EPF is made to benefit the salaried individual when you work for an organization, on the surface it is believed the employer and the employee needs to contribute equally into PF but the employer charge and amount of 12% out of your salary and place it in your PF balance, and the rest 12% has a break up of 3.67% given by your Company and 8.33% from the Employee pension scheme, All the individuals Withdrawing the salary of ₹15, 000 and above needs to register under the EPF scheme.
You can withdraw the entire amount from the account after you retire or leave the organisation. In case of your unfortunate demise, your nominee or legal heir can withdraw the EPF amount.
On March 28, 2020 a notification to amend on employees Provident fund scheme 1952 has made it clear that now you can withdraw three months of your Basic Pay and Dearness allowance from the EPF account in view of the Lock down to fight COVID-19.
The lockdown of 21days has tremendously affected the economy and people sustaining Wages and for the period of 3weeks can result into starvation, however ₹1.7lakh crore package has been introduced by Finance Minister Nirmala Sitaraman, where in organisations where a maximum of 90% employees have a salary of less than 15,000 govt. Is supporting them by giving 3months of their Dearness allowance and PF.
But if you earn more than that, that doesn't mean you aren't facing the Crisis, so how can you Withdraw the amount of PF, the withdrawal claim can be made by the employee under the circumstances of Unemployment or when he tries, 75% of the EPF can be withdrawn after one month of unemployment and the remaining 25% can be withdrawn after two months on Unemployment. You can make the claim by filling EPF withdrawal form online.
EPF Withdrawal online Procedure-
Step 1- Sign in to UaN member Portal with the UAN and Password.
Step 2- click on online services and select Claim(form 31,19&10C) from the drop down.
Step 3- Your Details will be Displayed on the screen, now enter the last 4 digits of your bank account and click on Verify.
Step 4- Click Yes, and then Click on 'Proceed for online Claim' option.
Step Select PF advance(form31) to withdraw your funds online.
Step 5- Now a tab would open where you need to put the purpose for which advance I'd required and the employee's address.Step 6 - by submitting the original documents depending on the purpose your PF claim is done.
After 15-20 days you can get the money credited into your account.
How to check the EPF Claim Status?
Again log in into the UAN portal and Click on Online Serviced tab, and click on Track Claim status. You can see EPFO claim Status on your screen.
