provident fund account in case they needed emergency funds due to financial stress caused by the covid-19 pandemic.Under the provision, a member of the Employees’ Provident Fund Organisation (EPFO) can withdraw up to 75% of his/her provident fund balance or three months’ basic wages plus dearness allowance, whichever is lower.So, for example, in case you have a balance of ₹1 lakh in your provident fund account and your three months’ basic pay and dearness allowance add up to ₹45,000, then you can withdraw up to ₹45,000.Such withdrawals are generally processed within three days of receipt of claims.However, if you are planning to opt for such a withdrawal from the provident fund, it’s important to understand the tax implications.As these.