EPFO NEWS: EPFO provides new facilities for its subscribers. In such a situation, if you are also an EPFO subscriber, then this news can be special for you. Let us tell you that the facility of auto-mode settlement is also being provided by EPFO. Through this facility, subscribers can claim advance for education, medical, marriage and home maintenance or buying a house.
Let us tell you that the special thing about this facility is that through this the claim amount is received in three to four days. Earlier it used to take 15 to 20 days to get the claim amount. Earlier all the details of the subscribers were checked. Due to which it takes a lot of time. But now the approval of the subscribers is sent through the automated system. So that it is easy to get the claim amount.
Eligibility to claim
Let us tell you that this facility was started by EPFO in April of the year 2020. In which it was mentioned that you can withdraw money for medical emergency, for sister’s or daughter’s marriage, for children’s education, for buying or building a house.
You can withdraw 1 lakh rupees
For information, let us tell you that earlier EPFO used to provide the facility to withdraw only up to Rs 50 thousand, but now its limit has been increased to Rs 1 lakh. All this work is done through auto-mode settlement. In which subscribers do not even need any approval. Under this facility, money comes into the account in just three days. In which subscribers have to give KYC, bank details, claim request eligibility etc.
Know the process of withdrawing money
To withdraw money, first of all you have to login to the EPFO website through UAN and password. After this, click on the option of online service. Now choose the claim section. In which you have to click on bank details, proceed for online claim. Now a new page will open. In which Form 31 has to be selected and PF account has to be selected.
