In a move to simplify the process for members of the Employees’ Provident Fund Organisation (EPFO), a new update has been announced regarding advances under Para 68B (7). Starting from April 17, 2025, members can now apply for advances based on self-declaration, without the need to link it to any previous withdrawals under Para 68B.
Key Update:
The update allows members to avail advances under Para 68B (7) after 60 months from the date of completion of their dwelling house, provided they submit a self-declaration for the same. This change is designed to make the process smoother and more accessible, eliminating the need for linking the advance to any prior withdrawals under Para 68B.
Additionally, the necessary changes have already been made to the EPFO software system to facilitate this new procedure. Members who meet the eligibility criteria will now be able to process their advances without facing rejections.
This move aims to improve the ease of access to EPFO advances, ensuring that eligible members can benefit from the scheme without unnecessary delays or complications.
Disclaimer – This blog post is a general guide. It should not be considered legal advice. Consult a legal professional for more details.