The Employees' Provident Fund Organisation (EPFO) has provided significant relief to its millions of account holders by making important changes to its withdrawal rules. Now, employees no longer need to visit offices or wait for weeks to meet their financial needs. The organization has launched a special 'auto-mode' facility that processes advanced PF claims in a very short time. This facility is specifically available for purposes such as medical emergencies, education, marriage, and buying a house. This is most helpful for those who suddenly need money urgently.

Increased Withdrawal Limit

According to the previous rules, the withdrawal limit through the auto-settlement mode was lower, which has now been increased to ₹1 lakh. Earlier, this limit was only ₹50,000. The increased limit allows account holders to easily meet their larger financial responsibilities. The biggest feature of this system is that it does not require any manual verification, eliminating the possibility of human delays.

Benefits of Faster Processing

In the past, PF claims used to take 15 to 20 days to settle. The main reason behind this long duration was the physical verification of documents and KYC matching. But now, the computer-based automatic system verifies eligibility, KYC status, and bank details on its own. If all the information is found to be correct, the money is directly transferred to the bank account within 3 to 4 days.

Eligibility and Requirements

To avail of this facility, it is mandatory to fulfill some basic conditions. The account holder's UAN must be active, and their Aadhaar card must be linked to their bank account and PF account. In addition, the member's bank details and KYC must be fully updated. This facility was primarily launched for medical purposes, but now it has been extended to purposes such as marriage and education as well.

Simple Online Application Process

To withdraw money, first, you need to log in to the EPFO ​​portal using your UAN and password. Next, you need to go to 'Online Services' and select the claims section. After verifying your bank account, click on 'Proceed for Online Claim'. On the new page, select PF Advance Form 31. Here, you need to fill in the reason for withdrawal, the desired amount, and your address. Finally, upload a scanned copy of your check or passbook and verify it using an Aadhaar-based OTP. Once the process is complete, the application goes to your employer, and as soon as they approve it, the auto-processing mode is activated.