You Can Take PF Loan For Covid 19 Treatment? Check Rules -

You Can Take PF Loan For Covid 19 Treatment? Check Rules

New Delhi: EPF Withdrawal – Covid cases are rising rapidly across India as more and more people have started getting infected by the highly contagious Coronavirus. At this juncture, people are worried over treatment cost for Covid. In a relief for salaried class, employees having the Employees’ Provident Fund (EPF) account can withdraw money or take loan on medical ground. Also Read – West Bengal Assembly Election Phase 6 Voting Live: Polling at 43 Constituencies to Begin at 7 AM

According to norms laid down by the Employees’ Provident Fund Organisation (EPFO), employees can withdraw money for medical emergency, construction or purchase of new house, renovation of house, repayment of home loan, and wedding purposes. Also Read – Shah Rukh Khan Lauds KKR Stars Andre Russell, Pat Cummins, Dinesh Karthik Despite Loss Against CSK in IPL 2021, Tweet Goes Viral | SEE POST

EPF Withdrawal Rules

Those, who want to withdraw money for the Covid treatment purpose, will be able to withdraw under the ground of medical emergency for spouse, or member or parent or children. Also Read – RCB vs RR Dream11 Team Prediction VIVO IPL 2021: Captain, Fantasy Playing Tips, Today’s Probable XIs For Today’s Royal Challengers Bangalore vs Rajasthan Royals T20 Match 16 at Wankhede Stadium, Mumbai 7.30 PM IST April 22 Thursday

In fact, if an employee or his/her parent, spouse or children fell sick due to Covid, the member can withdraw amount.

An employee can withdraw six times the monthly salary or employee’s share with interest (whichever amount is lesser) from the EPF for medical treatment including that of Covid.

On this type of the EPF withdrawal, no lock-in period or minimum service period is applicable.

Documents Required For EPF Withdrawal for Covid Treatment

Employee needs to have Universal Account Number (UAN).

Employee’s bank account details must match with his or her EPF account.

Always remember the EPF withdrawal fund won’t be transferred to bank account of the third party.

One must make sure that father’s name and employee’s date of birth should match clearly with the id proof that borrower decides to submit.

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