EPFO: A Step-By-Step Guide To Withdraw Money Twice From Your Provident Fund Account

 


 EPFO allowed the subscribers to withdraw double money from their respective accounts to meet the financial needs arising due to the pandemic. Currently, India is battling the third wave of the pandemic with over 2 lakh cases daily.

New Delhi: Keeping in mind the sudden expenses due to Covid-19 emergencies, Employees Provident Fund Organisation (EPFO), earlier this year, allowed the subscribers to withdraw double money from their respective accounts. Scores of people have been facing financial difficulties amid the raging pandemic. Currently, India is battling the third wave of the pandemic with over 2 lakh cases daily.

Read More:- Amazon in talks to lease space at DLF’s new project in Gurgaon

The account holders can withdraw the money using the online portal of EPFO. What is more important is that the money will be transferred in just a matter of hours. Before the pandemic struck the world, subscribers were allowed to withdraw non-refundable balances only once.

The provision to withdraw the money twice, according to a report by The Economic Times, was first launched under the scheme Pradhan Mantri Garib Kalyan Yojana (PMGKY) 

A STEP-BY-STEP GUIDE TO WITHDRAW MONEY TWICE FROM YOUR PF ACCOUNT

Read More:- Taliban allows schools, universities in Afghanistan to reopen in March

  1. Visit the member e-service portal at https://unifiedportal-mem.epiindia.gov.in/memberinterface/.
  2. Log in to the PF account using your UAN and password. Enter the Captcha code for verification.
  3. Go to the ‘Online Services’ section.
  4. Select your claim (Form-31, 19, 10C and 10D).
  5. Now, enter your personal details. These include the name, date of birth and last four digits of your Aadhaar number.
  6. Fill in your bank account number and click on ‘verify’.
  7. Share the ‘Certificate of Undertaking’.
  8. Click on ‘PF Advance (Form 31)’.
  9. Select the ‘Outbreak of pandemic (COVID-19)’ form.
  10. Enter the amount you want to withdraw.
  11. Now, upload the scanned copy of the cancelled cheque and address proof.
  12. Enter the one-time password (OTP) sent to the mobile number registered with Aadhaar.
  13. Click on ‘Submit’

Comments

Post a Comment

Popular posts from this blog

Senior Citizen Train Ticket Discount: Government has issued a new statement regarding giving discount to senior citizens on train tickets, know the details here

Image
  Senior Citizen Train Ticket Discount: Once again a demand has been made in the Lok Sabha to give discount to senior citizens on train tickets. Senior Citizen Train Ticket Discount:  Railways has withdrawn the discount given to senior citizens on train tickets since the Corona period. However, from time to time there has been a demand to restore this concession given to senior citizens in trains. Even in the winter session of the Lok Sabha, some members raised the demand for increasing fare concessions and facilities for senior citizens traveling in trains. However, even before this, Railway Minister Ashwini Vaishnav has told in the Lok Sabha that during the train journey, every passenger is given an average subsidy of 53 percent on the train ticket. Apart from this, he also told who gets discount on tickets while traveling by train. Demand for discount in train tickets raised again During Zero Hour in the House, Janata Dal (United) MP Kaushalendra Kumar said that before the Corona ep
Read more

Cash Transaction Rules: Income tax rules on cash transaction between Husband-Wife and Son-Father, know rules

Image
  Cash Transaction Rules: Income tax keeps an eye on our every transaction. But is there any tax on cash transactions or can Income Tax send a notice? Or how much cash transaction can take place between you and your wife or between father and son? If you also have these questions in your mind, then let us know their answers… If you also transact money between father and son or between husband and wife, then this news is useful for you. Actually, every transaction of ours has an eye on income. In such a situation, a question arises in the minds of many people whether income tax notice can be received even on cash transactions? Let us know how much cash transaction you can do in your family. Income tax sends notice? According to tax experts, if you give money every month for household expenses or give money as a gift, then the wife is not liable for income tax. Both these types of amounts will be considered as the income of the husband. The wife will not receive any notice from the Incom
Read more

Have a Current/Savings Bank Account? Know the Cash Deposit Limits under Income Tax Act to avoid Penalties and Notices

Image
  Adhering to cash deposit and withdrawal limits is crucial to remain compliant with the Income Tax Act in India. This article aims to elucidate the various facets of cash-related regulations, encompassing savings and current accounts, fixed deposits, credit card bill payments, real estate transactions, and more.  Cash Deposit Limits in Savings and Current Accounts The Indian Income Tax Act imposes specific regulations on significant cash deposits in savings accounts. Individuals accumulating INR 10 lakh or more during a fiscal year must notify tax authorities.  For current accounts, this threshold is set higher at INR 50 lakh. Although not immediately taxed, financial institutions report transactions exceeding these limits.  Cash Withdrawal and TDS under Section 194N  Section 194N outlines TDS rules for cash withdrawals. A 2% TDS is levied on withdrawals exceeding INR 1 crore within a fiscal year. Non-filers face a 2% TDS on withdrawals over INR 20 lakh and a 5% TDS on amounts exceedi
Read more