EPFO has given a big relief to 7.5 crore members of the country by increasing the auto settlement limit of PF withdrawal to Rs 5 lakh. Earlier this limit was only Rs 1 lakh.
Imagine what will you do if you suddenly need Rs 5 lakh. If we tell you that you can withdraw this amount from your PF account in just a few clicks, then you may not believe it, but the Employees Provident Fund Organization (EPFO) has made it easy. EPFO has given a big relief to 7.5 crore members of the country by increasing the auto settlement limit of PF withdrawal to Rs 5 lakh.
Earlier the auto settlement limit of PF withdrawal was only Rs 1 lakh, which has now been increased. Along with this, EPFO has reduced the claim settlement from 10 days to 3 to 4 days. That is, this money will be transferred to your account within three to four days of making the claim.
You will be able to make auto claim for marriage, studies and buying a house
EPFO has given another big relief to its members. Earlier, auto claim was available only for illness or hospital expenses, now you will be able to make auto claim from your PF account for marriage, studies and buying a house. EPFO has told that the PF claim rejection rate has also come down, the claims which used to be rejected by 50 percent earlier have come down to 30 percent.
5 lakh rupees will be released without documents
Let us tell you, Auto Settlement of Advance Claim Provident Fund has an automated software system. Under this, you can make settlement claim without manual investigation. Earlier its limit was one lakh rupees, which has now become five lakh rupees. That is, if your KYC is verified with EPFO, then you can transfer money from PF account to your account in 3 to 5 days. For this you will not need any document.
PF money can also be withdrawn from UPI and ATM
EPFO members of the country are going to get another big facility soon. Now you will be able to withdraw money from your PF account and get balance information through UPI or ATM. Its limit is up to one lakh rupees. This facility can start in the end of May or the beginning of June.
Withdraw Rs 5 lakh from PF account without any document, this is an easy process
EPFO has given a big relief to 7.5 crore members of the country by increasing the auto settlement limit of PF withdrawal to Rs 5 lakh. Earlier this limit was only Rs 1 lakh.
Imagine what will you do if you suddenly need Rs 5 lakh. If we tell you that you can withdraw this amount from your PF account in just a few clicks, then you may not believe it, but the Employees Provident Fund Organization (EPFO) has made it easy. EPFO has given a big relief to 7.5 crore members of the country by increasing the auto settlement limit of PF withdrawal to Rs 5 lakh.
Earlier the auto settlement limit of PF withdrawal was only Rs 1 lakh, which has now been increased. Along with this, EPFO has reduced the claim settlement from 10 days to 3 to 4 days. That is, this money will be transferred to your account within three to four days of making the claim.
You will be able to make auto claim for marriage, studies and buying a house
EPFO has given another big relief to its members. Earlier, auto claim was available only for illness or hospital expenses, now you will be able to make auto claim from your PF account for marriage, studies and buying a house. EPFO has told that the PF claim rejection rate has also come down, the claims which used to be rejected by 50 percent earlier have come down to 30 percent.
5 lakh rupees will be released without documents
Let us tell you, Auto Settlement of Advance Claim Provident Fund has an automated software system. Under this, you can make settlement claim without manual investigation. Earlier its limit was one lakh rupees, which has now become five lakh rupees. That is, if your KYC is verified with EPFO, then you can transfer money from PF account to your account in 3 to 5 days. For this you will not need any document.
PF money can also be withdrawn from UPI and ATM
EPFO members of the country are going to get another big facility soon. Now you will be able to withdraw money from your PF account and get balance information through UPI or ATM. Its limit is up to one lakh rupees. This facility can start in the end of May or the beginning of June.
This is how you can withdraw the auto claim
To withdraw money from your PF account, first of all, you must go to the official website of EPFO https://www.epfindia.gov.in. Here you will be asked for your UAN number and password. After logging in, you have to verify your account and click on Proceed for Online Claim. Here you have to select Advance Form 19 and fill in the complete details. After this, you will have to verify your account number and then submit the form. After completing the process, the money will be transferred to your account within a few days.
To withdraw money from your PF account, first of all, you must go to the official website of EPFO https://www.epfindia.gov.in. Here you will be asked for your UAN number and password. After logging in, you have to verify your account and click on Proceed for Online Claim. Here you have to select Advance Form 19 and fill in the complete details. After this, you will have to verify your account number and then submit the form. After completing the process, the money will be transferred to your account within a few days.
