Home |EPF | I have a balance of Rs 100000 in my PF account and applied for Rs 75000 advance for COVID. At the rate of 75%, I should get Rs. 75000. Why a much lesser amount has been credited to my account?

I have a balance of Rs 100000 in my PF account and applied for Rs 75000 advance for COVID. At the rate of 75%, I should get Rs. 75000. Why a much lesser amount has been credited to my account?

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Abhishek Abhishek
Answered on May 01,2020

The 75% of the amount standing to your credit is maximum permissible limit and the same is applicable if it is lesser than basic wages and dearness allowances for three months. If 75% of the balance is more than three months wages, advance equal to three months wages (Basic+DA) is sanctioned as per the rules. If your monthly wage is Rs.20000, the entitled advance amount is Rs 60000 only. If the monthly wages are Rs 30000, the amount of advance will be restricted to Rs.75000.

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