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, a part of your salary must be deposited in the EPF i.e. Employee Provident Fund or Employees Provident Fund every month. 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.
PF money can be withdrawn according to the need
he 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from your child, brother or sister or PF for your marriage, then 50% of the contribution made to your PF account can be withdrawn.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 in EPF account with interest. For this too, completion of at least 7 years of the job is mandatory.
If you want to buy a house or land and have completed five years of your job, then you can also apply to withdraw money from PF account with some conditions.
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 amount of contributions and interest of both you and the employer.
PF will get full money on 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, leave certificate and certificate issued by the employer or ESI about the declaration of no ESI facility.
You can withdraw this amount after leaving the job
Last year, the EPFO allowed 75 percent of the PF to be withdrawn if its employees remained without jobs for more than a month.
The remaining 25 percent of the deposits in EPF can be withdrawn after two months of the job.
You can also click this link – https://unifiedportal-mem.epfindia.gov.in/memberinterface/
- Here you enter your UAN number, password, and captcha.
- After this click on Manage and check your KYC.
- After this, go to Online Services and click on CLAIM (FORM-31, 19 & 10C).
- Here, there are options to withdraw the entire money of EPF, withdraw some money for loans and advances, and withdraw money for the pension.
- Due to which you can withdraw money, you will see the same option.
- According to your needs and qualification, you fill your claim form online.
- EPF amount will be deposited in your registered bank account within 10 days of filling the form.
