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The earlier limit was Rs 50,000.
Form 31 of EPFO allows for partial withdrawal for various purposes including marriage, construction or buying of a house and withdrawing money for medical treatment.
Employees Provident Fund Organisation (EPFO) has doubled the existing eligibility limit under the 68J of Form 31, from Rs 50,000 to Rs 1 lakh. The Paragraph 68J allows an EPF contributor to apply for an advance withdrawal for self and dependent medical expenses.
Form 31 of EPFO is the form related to partial withdrawal for various purposes including marriage, construction or buying of a house and withdrawing money for medical treatment. The announcement was made via a circular issued by the EPFO on April 16.
“The competent authority has approved the limit of auto claim settlements under para 68J from Rs 50,000 to Rs 1,00,000 and the same has also been deployed in the application software on 10/April/2024.” the circular stated.
Paragraph 68J allows members to request partial withdrawals under certain medical conditions. These circumstances include hospitalisation lasting for one month or more, major surgical operations, and ailments such as tuberculosis, leprosy, paralysis, cancer, mental derangement, or heart ailments. However, it should also be noted that the employee cannot withdraw if their PF account has less than Rs 1 lakh. The subscribers are authorised to claim for withdrawal of 6 months’ basic wages and DA or the employee’s share including interest (whichever is less). Along with Form 31, the employer has to submit Certificate C signed by them as well as the doctor to claim the submission.
EPFO introduced the Universal Account Number (UAN) system to enable claim submission without the need for employer attestation. The subscribers can now submit claim forms directly to the EPFO after linking their UAN with their Aadhaar number and bank account. You can log in to the EPFO portal with your UAN. You can claim after receiving OTP.
Form 31 looks at partial withdrawal from PF for different purposes. It has many different clauses under which money is withdrawn. Under Para 68B, money can be withdrawn to repay the loan in special cases. Under 68H, money is withdrawn for advance in special cases. Similarly, 68K is for marriages or post-matriculation education of children and 68N is for physically handicapped people to buy equipment. 68NN is used to withdraw funds before retirement.
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