In the wake of the second wave of COVID-19 pandemic, organizations across India are yet again forced to announce pay cuts and layoffs to sustain in this crisis time. As a result, the majority of employees now are left with no choice but to rely on their savings. And, one of the common savings most working individuals is considering is the provident fund. Now, we all know about pf and its advantages but a good number of people still have various queries related to this popular employee benefit. If you are one of them, you have certainly landed at the right place now. 

 

Let’s dig deeper and find all the answers to your questions. 

 

Can I withdraw PF during COVID-19? 

Yes, you can. Last year, the government announced that every working individual can withdraw a specified amount from his or her PF account due to this pandemic. 

 

How much can I withdraw? 

Employees can withdraw: 

  • an amount equivalent to their 3 months basic salary and DA 
  • OR, 75% of the balance in their account

 

How can I calculate it? 

Here is an example that will help you calculate your pf easily. 

For instance, Joel is an employee willing to withdraw PF due to the COVID crisis. If his last withdrawn salary including basic and DA is 25k and PF balance is INR 2,00, 000. Then he will be eligible for an amount of: 

  • 3 months basic salary and DA: 75,000 
  • Or, 75% of his PF balance: 1,50,000

 

How can I check my PF balance? 

Gone are the days when employees were supposed to go all the way to the EPFO office and fill a form to check their balance. Like everything is going digital lately, formalities related to the provident fund are also easier today. 

All that said, here are some easy steps to check your PF balance: 

  • SMS “EPFOHO UAN LAN” to 7738299899
  • Give a missed call on 011-22901406
  • Use EPFO’s official portal

Also Read: Provident fund balance: now check balance online using EPFO App

Who all are eligible to withdraw PF due to COVID? 

If you wish to withdraw PF to meet your needs during this pandemic, make sure you have met all the requirements mentioned below: 

  • You should have activated your UAN number 
  • Your Aadhar Card should be linked to your UAN 
  • Your UAN should be seeded with the correct bank account details 

 

How can I withdraw PF?

The withdrawing modes remain the same as earlier. Either you can go for online pf withdrawal or Umang app. Both ways, it is simple to apply for withdrawal. 

 

How to know the status of my claim? 

This is one of the most-asked questions. 

In order to know the status of your application, all you need to do is log in to your account on the https://unifiedportal-mem.epfindia.gov.in/memberinterface/. Once you are logged in, find the option Track Claim status’ under the ‘online services’. There you can track the status of your claim. 

 

What if my company is exempted? 

Now, this is not a major issue but can make the whole withdrawal process a little tedious and late. If the company you are working for is exempted, you will have to reach out to your employer. For those who do not know, firms are normally termed exempted when they rely on private trusts for PF management. 

 

How many times can I withdraw PF during COVID? 

According to the recent PF laws, an employee can withdraw from his/her PF account only one time during this pandemic. So, make a decision wisely and use your PF only when there is no other way. 

There is more to it but we have included only the frequently asked questions here. 

 

We hope this blog helped you get a clear understanding on pf withdrawal during the COVID pandemic. Keep all the aforementioned points in your mind while applying for the same. Also, do not be hesitant to share these learnings with your colleagues and family members. Make things easier for them as well.