PF Withdrawal Rules: Many people have this question in their mind that can we withdraw money from EPFO account even before the completion of the time period? Yes, this can definitely happen but there are some methods for this. In this news we are telling you how you can withdraw money from your EPF account online.
EPF withdrawal can be done online through the website of Employees Provident Fund Organization (EPFO). Employees’ Provident Fund commonly known as EPF is a mandatory contribution provident fund that provides savings, pension and insurance benefits to employees in India. All regular workers in the country are required to contribute 12 per cent of their basic salary (and dearness allowance, where applicable) to the fund every month as per the provision.
This contribution is credited to the employees’ EPF account and the entire money contributed, along with the employer’s contribution and interest, can be withdrawn at the time of retirement.
How to withdraw money from EPF online –
Before starting, it is important for you to know that complete withdrawal from the EPF account is possible only when either the employee has retired or is not in service for more than two months. EPFO has also made provision for partial withdrawal in some special circumstances like medical illness, marriage, disaster or house renovation etc.
You can check the criteria for premature withdrawal in the FAQ document available on the EPFO site.
- Visit UAN member’s e-service portal.
- Enter your Universal Account Number (UAN) and password here. After this fill the CAPTCHA. Then click on the Sign in button.
- Now click on Online Services at the top of the menu and then click on CLAIM (FORM-31,19,10C&10D) option.
- Verify the details visible on the online claim form.
- After verification, enter your bank account number.
- Now click on the Verify button and then click on the Yes button which is available on the Certificate of Undertaking.
- Now you are asked to Proceed for Online claim. For which you have to click on Proceed.
- Now in this form you are asked whether you are applying for advanced PF withdrawal. In this you see a drop menu whose title is ‘Purpose for which advance is required’. Its purpose is to know from you the reason for which you want to make the withdrawal. You can select that reason from this menu.
- Now fill the amount you want to withdraw in the text box. After that fill your email address in the Employee Address section.
- Click on Certificate and then submit your application.
After submitting, EPFO site may ask you to submit the scanned copy of the documents which you have filled for withdrawal. Now you need to get this application verified from the employer. This process may take 15 to 20 days to receive the amount in your bank account.
