If you are also a employed citizen and are getting the benefits of Employees’ Provident Fund, then this news can prove to be very beneficial for you. According to the rules of Employees Provident Fund Organization, there are different rules for withdrawing money from PF account. But now in order to attract employees towards their work, the rules of case withdrawal of Employees Provident Fund Organization have been changed. Now employees can withdraw double their PF deposited amount. However, some conditions have to be fulfilled for this, know here the amount of increase in EPF Withdrawal Limited in Provident Fund Organization.
EPFO changed the rules of cash withdrawal
Employees Provident Fund Organization has changed the new rules for medical advance withdrawal. Now employees can withdraw up to ₹ 100000 from EPFO for the treatment of their families. Earlier this limit was ₹50000. Information about the increase was given by the government on April 16. Now you can easily withdraw ₹100000 for the treatment of illness.
Form 31 will have to be filled
Employees Provident Fund Organization increased the limit for withdrawal of money under partial withdrawal for medical emergency to Rs 1 lakh. This change came into effect from 16 April 2024. Using Form 31, you can withdraw money from your PF account for treatment and other expenses like building a house, buying a house, etc.
If you or your family is suffering from a life-threatening disease, you can withdraw money from your EPF account within three days, but the patient will have to be admitted to a government hospital. If the patient is admitted in a private hospital, he will first be examined and then the money can be withdrawn.
