In reality, lakhs of individuals have lost their positions because of Corona and employment cutback. Experiencing the same thing, this adjustment of the guidelines will give alleviation to individuals.
What is the most common way of withdrawing cash and three circumstances To withdrawing cash from
PF to LIC, the new states of EPFO have to be followed. First you need to submit Form 14 of EPFO. After this, LIC’s plan and EPFO account will be connected to one another. In this manner the account holder will actually want to pay the premium of LIC.
The subsequent condition is that when you are filling Form 14 of EPFO, then, at that point, you ought to have somewhere around two months’ superior sum in your account. The third condition is that EPFO has given this facility to the account holders just for the plan of LIC. This facility isn’t accessible for different organizations. Account holders can not deposit cash from the EPF account in some other plan.
EPFO rolled out another huge improvement,
While under the new guidelines of EPFO, if you want cash, EPFO will permit you to withdraw one lakh rupees from PF. You won’t have to give any documents in this process.
