employee provident fund
Business Education

How and when to withdraw money from EPF?

Contribution to EPF is done to meet the post-retirement needs, but there are many times that we need to withdraw money from PF in between jobs. If you are in a private job then A part of your salary must be deposited every month in EPF i.e. Employee Provident Fund or Employees Provident Fund. You will also get information about this in the salary slip of every month. Contribution to EPF is done to meet the post-retirement needs, but there are many times that we need to withdraw money from PF in between jobs. If any such requirement comes in front of you, then you can easily withdraw money from your EPF account. We are telling you about the entire process of withdrawing money from EPF account.

The amount you can withdraw from your PF depends on the status of your PF account. If you want to withdraw money from your child, brother/sister, or PF for your marriage, then 50% of the contribution made to your PF account can be withdrawn. For this, however, it is important that you have completed 7 years of job. For higher education of your child or children, you can withdraw 50% of your contribution to the EPF account with interest. For this also, completion of at least 7 years of the job is compulsory. If you want to buy a house or land and have completed five years of job, then you can also apply to withdraw money from the PF account with certain conditions. Can. You can withdraw up to 24 times the monthly salary for purchasing the plot and up to 36 times the monthly salary for buying/building a house. In this case, you can also withdraw the number of contributions and interest of both you and the employer.

Withdraw Full PF in Medical Emergency
If you want money for the treatment of yourself, wife, children, or parents, then you can withdraw 6 times your salary or the full amount of PF, whichever is less. You can withdraw money from a PF account even in the event of a serious illness. For this, you need proof of hospitalization for a month or more, leaving certificate, and certificate issued by the employer or ESI about the declaration of no ESI facility.

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Withdraw PF after leaving the job
The EPFO ​​allowed 75 percent of the PF to be withdrawn if its employees remained without jobs for more than a month. The remaining 25 percent of the deposits in EPF can be withdrawn after two months of the job.

The money from the PF account will come to your registered bank account. So if your registered bank account is closed due to any reason. So first get your registered bank account revived or change your bank account. After that apply. To withdraw money from the PF account, your mobile number and Aadhar card number are also required to be linked. Because to authenticate the whole process, a one-time password is sent to your registered mobile. All personal information entered in the EPFO ​​account such as date of birth, name, father’s name, address, etc. should match your Aadhar card. So if any information is old or wrong. So get it updated first and then apply.

If you fill the online PF form. So you get many types of benefits. Which you can understand in this way.

  • The biggest advantage of filing online PF form is this. That you do not get to travel around the office of EPF. Nor do you need an employer sign to withdraw money.
  • You can withdraw money only by filling the online EPF form. You do not have to face tantrums of any EPF officer or HR department officials to complete this whole process. That is, you do not have to face any kind of problem.
  • The entire process of online EPF form is digital. So you can get all the benefits by certifying your identity.
  • The process of extracting PF online takes you only a few hours. Whereas the offline process takes several days and sometimes months.
  • Along with this, many problems have to be faced in the offline process. Whereas in the online process, you do not face any problem again.

When to withdraw online EPF

  • After leaving the job
  • To extract some pf while on the job
  • To get pension after retirement

How to apply for withdraw PF Online

  • First of all, you have to go to the UAN portal. If you wish, you can also go direct by clicking here.
  • After reaching the portal, you will have to log in using your UAN number and password. If you do not know your password. You can create a new passport again by clicking on the Forgot password.
  • After logging into the account, you should check your KYC status. And it is very important to see. Whether your Aadhaar card is linked to your UAN number or not. Because if your Aadhar card will not be linked. So first you have to link your Aadhaar card.
  • If your Aadhaar card is linked. So you have to click on EPF Claim Form in the drop-down menu of the online service option.
  • As soon as you click on the Claim Form option. A one time password will be sent by the portal to your registered mobile to authenticate your Aadhaar card. After verifying that, you will have an EPF Claim Form open.
  • In the form, you will have to fill all the necessary information correctly. And then he has to submit. It is worth noting here. That you should save this form to yourself. Which can help in any kind of problem ahead?
  • EPF amount will be deposited in your registered bank account within 10 days of filling the form.