The Employees’ Provident Fund Organization (EPFO) has raised the qualifying limit of Paragraph 68J claims for auto claims processing.
Read More: How To Check EPF Balance: Know Steps To Check EPF Balance Using UAN, UMANG App, SMS, And Missed Call
Now, you can claim up to Rs 1 lakh instead of the previous limit of Rs 50,000. This change was also updated in the application software on April 10, 2024, as per a circular issued by EPFO on April 16, 2024, as cited in an ET report.
EPF withdrawal: What does Paragraph 68J claim?
Paragraph 68-J of the EPF Scheme enables EPF subscribers to directly apply for an advance for their medical expenses and those of their dependents.
Members can request an advance from the fund for specific medical circumstances, for example hospitalisation for a month or longer, undergoing major surgery, or having conditions like TB, leprosy, paralysis, cancer, mental illness, or a heart condition.
Additionally, members are no longer required to provide a proforma, medical certificate, or any other document to qualify for an advance under paragraph 68-J.
What’s the maximum claim amount?
The maximum amount that you can claim under paragraphs 68-J and 68-N will be determined based on your basic pay and dearness allowance for a period of six months, along with their personal contribution share plus interest, or the equipment cost, whichever is lower.
As per the EPFO circular dated April 16, 2024, it has been approved by the Competent Authority that the limit for auto claim settlements under paragraph 68J has been increased from Rs 50,000 to Rs 1,00,000.
This update was also implemented in the application software on April 10, 2024. This information is provided for the awareness and necessary action of all concerned parties.
Apart from this, an EPF subscriber can partially withdraw money for various purposes, including personal events like one’s own or a child’s marriage, medical emergencies, buying a house, repaying a home loan, or renovating a house.
Furthermore, it is worth noting that for most of these withdrawals, the subscriber must have been contributing to the EPF for at least five to seven years, depending on the specific situation.
Step-by-step guide to submit claim online
Step 1: Log in to the member interface using UAN credentials.
Step 2: Ensure that the KYC and service eligibility conditions, as listed against the UAN, are accurate and complete.
Read More: EPFO Pension Rules: What Subscribers Need To Know For Retirement
Step 3: Choose the relevant claim.
Step 4: Verify your identity by entering the OTP received on the mobile number registered with UIDAI to complete the online claim submission.
