New Delhi: In the wake of the second wave of the corona, the central government has once again allowed withdrawing money from EPF accounts. The steps are still the same as they were during the first wave. Withdrawals are non-refundable. The decision of the Ministry of Labor is very reassuring for the company employees and others who are in trouble during the Corona. It is learned that those who had withdrawn money earlier will also be given a chance this time.
The sum of three months’ basic salary and DA or 75% of the amount in the PF account … whichever is less can be withdrawn. Applications can be submitted for less than this number. The new decision is a great relief to those who were paid less. The government has taken this decision targeting such people. So far, PF has approved over 76 lakh applications. 18698 crore was disbursed through this.
The EPFO says it will complete the process within three days of applying. Things can get faster because there is an easier way to withdraw money online. The rule is that action must be taken within 20 days of receiving an application. But with the online facility, the process is much faster now.