Business Mantra News
Employees Provident Fund Organization (EPFO) has declared that if a member of EPFO becomes unemployed for more than 30 days, he/she may apply and can withdraw 75% of his total balance. Still he/she remains unemployed for more than 2 months, he /she can withdraw the remaining 25% of his Balance. Under the provisions of Employees Provident Fund Scheme, 1952, the above-mentioned changes have been incorporated.
A member can apply for the withdrawal from the on-line portal of EPFO, on the basis of Universal Account Number (UAN). After the submission of the application, the withdrawal is processed within 4-7 days and the amount of withdrawal is credited to the member’s bank account