EPF members can avail Non-refundable advance for illness of self or Family members - 22th May 2023

EPF members can avail Non-refundable advance for illness of self or Family members

  Contents News/Article Date: 22th May 2023 Relating to which Act: The Employees Provident Funds & Miscellaneous Provisions Act, 1952; The Employees’ State Insurance (ESI) Act, 1948           Penalty under the Act: Whoever, for the purpose of avoiding any payment to be made by himself under this Act [the Scheme, the [Pension] Scheme] or the Insurance Scheme] or of enabling any other person to avoid such payment knowingly makes or causes to be made any false statement or false representation shall be punishable with imprisonment for a term which may extend to one year, or with fine of five thousand rupees, or with both]. Applicable to which State: All the States and Establishments to be covered by these Acts  Type: Tax Concept News Report Pertains to: PF registered establishments and members Relevance of this news:  Karma Global  is in the business of HR Services, Payroll, Outsourcing and Regulatory Compliances right from its inception in 2004 and since then, has brought in a lot of efficiencies and technological upgradations with experts on its roll, to ease the hassles of Payroll Processing, Temp Staffing, On-boarding, Employee Life Cycle, Statutory, Regulatory and Payroll compliances by providing customized solutions to all its elite clients. Karma Global has set up its offices in UK, USA, UAE, Canada and South East Asia and is fully into providing solutions for workplace issues, employment law advice, immigration and negotiation, representation in employment tribunals and involvement in leading cases, addressing HR issues in line with Labour Laws, payroll, staffing and talent acquisition. And in the previous instance: As per EPFO, member can withdraw an advance of six months’ basic salary (including DA) or the Total amount deposited in the members account including interest whichever is less. As per EPFO, Members are not required to repay the advance which was earlier withdrawn. And in the last instance: Formal sector workers under the Employees’ Provident Fund Organisation surged by 13.2% to 13.9 million in 2022-23 compared to 12.2 million in 2021-22, shows the provisional payroll data released by the retirement fund body on Saturday. Of the 1.34 million workers added in March, around 0.75 million new members have come under the ambit of EPFO for the first time with highest enrolment of 0.23 million in the age-group of 18-21 years followed by 0.19 million in the 22-25 years’ age group. Subject: EPF members can avail Non-refundable advance for illness of self or Family members  

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EPF members can avail Non-refundable advance for illness of self or Family members

  How much advance PF can be applied in this scheme? As per EPFO, member can withdraw an advance of six months basic salary (including DA) or the Total amount deposited in the members account including interest whichever is less. As per EPFO, Members are not required to repay the advance which was earlier withdrawn.   What is required to apply for advance PF? To apply for illness advance, Form 31 needs to be summited and no other certificates are required.   How to apply for illness advance: To apply via EPFO Website: Visit the EPFO website at https://unifiedportal-mem.epfindia.gov.in/memberinterface/ Login in the portal using your UAN and password and enter the captcha for verification. Now go to the ‘Online Services’ tab and select the option ‘Claim (Form-31)’   To apply for ‘Illness advance via Umang App: An EPFO member can also claim this ‘Illness advance’ withdrawal using one’s android phone or smartphone by downloading Umang App. Download the Umang App Enter UAN and OTP received on the registered mobile number. Go to KYC Details and enter your Bank Account Number In the Employee Address tab, enter your address as per Aadhar card. In the Claim form tab, select the Form 31, select Illness for the Purpose for which advance is required. Enter the Amount you wish to withdraw and upload the clear copy of your cheque. Meanwhile, in accordance with the Supreme Court’s order, EPFO has extended the deadline for applications for higher pensions by 60 days. Via the unified members’ site of the retirement fund organisation EPFO, all eligible members have until May 3, 2023, to choose and apply jointly with their employers for increased pension

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