The job will be free but you can get the money from the EPF account
EPFO can give extinction extinction allowance
If you remain unemployed for 3 months then get 80% amount
New Delhi: Very good news is coming for jobs. If your job goes away for any reason or you quit your job, you will not have money shortage. This is not a joke but reality. In fact, the Employees Provident Fund Organization (EPFO) is considering the proposal to give advance amount to PF account holders. A proposal was prepared recently. As per the proposal, in case of going to work, one month later, 60 per cent of the PF account holders will get advance as advances. When unemployment is in place for 3 months, the amount of PF can be withdrawn by 80%.
Who will benefit from
EPFO currently has more than 5 crores active members. Anyone from whom can benefit from this feature. Workers in the organized sector will get money from PF accounts in the time of unemployment. It is also non refundable that means if the withdrawal of money from the PF is not required to return the money. If the employee's job goes out and he does not get another job for a month, he can withdraw money from Advance as his Provident Fund account.
Propose to be sent to the board
The Central Board of Trustees will be meeting in April. In which many important proposals will be discussed. The proposal for advance amount will also be kept against the Central Board of Trustees. It is hoped that by applying the proposal, people will also be able to get relief in the job going and they will get a salary to run the household expenses.
Retirement fund will be maintained
There is no condition about the position of withdrawal from the PF account. By doing so, the PF account holders looking for a job will get the means to complete their essential expenses until they get a new job. The best thing about this plan is that a retirement fund of a person's PF account will also be maintained.
EPFO can give extinction extinction allowance
If you remain unemployed for 3 months then get 80% amount
New Delhi: Very good news is coming for jobs. If your job goes away for any reason or you quit your job, you will not have money shortage. This is not a joke but reality. In fact, the Employees Provident Fund Organization (EPFO) is considering the proposal to give advance amount to PF account holders. A proposal was prepared recently. As per the proposal, in case of going to work, one month later, 60 per cent of the PF account holders will get advance as advances. When unemployment is in place for 3 months, the amount of PF can be withdrawn by 80%.
Who will benefit from
EPFO currently has more than 5 crores active members. Anyone from whom can benefit from this feature. Workers in the organized sector will get money from PF accounts in the time of unemployment. It is also non refundable that means if the withdrawal of money from the PF is not required to return the money. If the employee's job goes out and he does not get another job for a month, he can withdraw money from Advance as his Provident Fund account.
Propose to be sent to the board
The Central Board of Trustees will be meeting in April. In which many important proposals will be discussed. The proposal for advance amount will also be kept against the Central Board of Trustees. It is hoped that by applying the proposal, people will also be able to get relief in the job going and they will get a salary to run the household expenses.
Retirement fund will be maintained
There is no condition about the position of withdrawal from the PF account. By doing so, the PF account holders looking for a job will get the means to complete their essential expenses until they get a new job. The best thing about this plan is that a retirement fund of a person's PF account will also be maintained.
Apply for advance only after 30 days
Once the EPFO account holder completes one month from his date of employment, he can apply for an advance rupee in his area's EPFO office. Advance amount can be as advanced as 60% of the total amount in the PF account or the last 3 months of the person's salary. The balance amount will be credited to the PF account only.
Contributions will resume
After getting a job, PF contributions will be started in the same PF account of the account holder. For this, he will not need to open an account separately. It can give the old account number to its new employer. This account can be linked to the new employer by the UN. Thus there will be no impact on the account holder's retirement fund.
What if you do not get a job for 3 months?
Even if the PF account holder does not get a job for 3 months or more, he can also apply to the EPFO for a further advance. This time it can delete 80% of the amount credited to the PF account or the amount of the last two months' salary as advance.
Account will not be closed
In the current situation, after completion of PF fund, after 2 months, the Fool and Final Settlement is done and the account is closed. This proposal will continue to pf accounts and can be withdrawn in advance. When the job takes you back the account will be active. Employee Future Fund has prepared proposals for relief to its members.
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Once the EPFO account holder completes one month from his date of employment, he can apply for an advance rupee in his area's EPFO office. Advance amount can be as advanced as 60% of the total amount in the PF account or the last 3 months of the person's salary. The balance amount will be credited to the PF account only.
Contributions will resume
After getting a job, PF contributions will be started in the same PF account of the account holder. For this, he will not need to open an account separately. It can give the old account number to its new employer. This account can be linked to the new employer by the UN. Thus there will be no impact on the account holder's retirement fund.
What if you do not get a job for 3 months?
Even if the PF account holder does not get a job for 3 months or more, he can also apply to the EPFO for a further advance. This time it can delete 80% of the amount credited to the PF account or the amount of the last two months' salary as advance.
Account will not be closed
In the current situation, after completion of PF fund, after 2 months, the Fool and Final Settlement is done and the account is closed. This proposal will continue to pf accounts and can be withdrawn in advance. When the job takes you back the account will be active. Employee Future Fund has prepared proposals for relief to its members.
Read the original source