Employee Provident Fund (EPF), a government-backed scheme that takes contributions from each employers and workers, comes as crucial factor for financial savings. Employer and worker each contribute 10% of the essential wage each month.
The gathered quantity can be withdrawn within the occasion of retirement, or resignation. However, witnessing the robust instances for a lot of, the EPFO has now given an opportunity to the staff to withdraw part of the quantity in case of those crises.
“In life-threatening diseases, many times it becomes imperative to get the patient immediately admitted to hospital on emergency to save his/her life and it is not possible to get the estimate from the hospital in such situations. A need is felt for streamlining the advanced facility for such serious in-patient treatment in hospital wherever family members of employees are not able to manage estimate from the hospital concerned in which such patient has been admitted in an emergency,” the EPFO mentioned.
Sometimes a scenario arises the place an worker will get admitted to the ICU in a hospital and there’s no thought on the bills, then there’s a particular process the place a affected person is admitted to an emergency in a non-public hospital and competent authority considers it a match case to grant rest in guidelines for medical payments reimbursement, then advance specified beneath can even be given.
After that, the worker is requested to submit a request letter from him or any of the members of the family without an estimate together with particulars of the hospital and the affected person.
A lump sum medical advance as much as Rs 1 lakh can simply be granted by the authority with a rest on the formality or paperwork required. This quantity is instantly granted on the identical working day, given the scenario that worker is in. The Officer in control of the involved workplace (ACC-ASD for Head Office) ought to guarantee that this medical advance is granted by the following working day after the receipt of the appliance of advance.
If the quantity is above Rs 1 lakh, then the authority additional advances the extra quantity as per guidelines.
The medical advance quantity will both be credited to the wage account of the worker or will likely be paid to the Hospital immediately.
The worker ought to submit the invoice inside 45 days of discharge and the quantity from the invoice is adjusted from the ultimate invoice.
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