EPFO Advance Non-refundable Eligibility: The government has approved 8.1 percent interest on employees under the Employees’ Provident Fund Organization (EPFO). This is the lowest interest rate in four decades. At the same time, EPFO gives many more benefits to its customers besides interest. One of the benefits is the non-refundable EPF advance, under which an EPF member is allowed to withdraw 75% of the outstanding EPF balance or three months basic salary plus DA.
Here EPF receivable means employees’ share, employer’s share and EPF interest members can withdraw. According to the EPFO website, the provident fund regulator claims that non-refundable advances are received within three business days, but the online claim form is properly filled and the claimant fulfills the eligibility criteria.
Who is Eligible for Non-refundable EPF Advance
EPFO recently tweeted from its official Twitter handle, which states that EPF account holders have to fulfill certain conditions to be eligible for non-refundable EPF advance. EPF members can take EPF advance for housing loan / purchase or construction of site / house / flat. Also change in existing house, payment of home loan, illness of family member, marriage of someone in the family, post-matriculation education of children, natural calamity, unemployment of at least one month, investment in senior pension insurance. plan etc. EPF advance can be taken if required.
How to sue online
EPFO has informed on Twitter that EPF members can apply for non-refundable EPF advance through Unified Member Portal or UMANG App for various benefits.
To apply online, login to the EPFO portal or visit the link (unifiedportal-mem.epfindia.gov.in/memberinterface).
Now go to Online Service Claim.
Then upload the bank check leaf on which your name is written.
Now submit the form by clicking on ‘Submit’ option.
EPFO members can claim this EPF withdrawal using their Android phone or smartphone by downloading the UMANG app. They can perform multiple tasks online by logging on to the UMANG app using the UAN and OTP received on the registered mobile number and entering the above.