Find the PF withdrawal rules, and how to withdraw EPF amount online, and which form can use for EPF withdrawal, Can member withdraw EPF without UAN number, and how to withdraw PF amount from previous company in online…
EPFO department takes 12% of all salaried employees throughout their work life and give it back during their retirement as a big corpus of money, and the formula is simple that government and your employer helps you to save small chunks of money which in turn becomes surplus of money that can function as your retirement fund.
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While you provide 12% of your basic salary, your employer will also provide a small percentage every month from their side which adds to your retirement fund directly, and this does not mean that you will only be able to withdraw money at retirement but you can actually withdraw the PF money during various circumstances and reasons
So even before you think about applying for withdrawal of your money from EPFO portal you have to activate your UAN number, and you will be able to find your own UAN number from your salary slip which we have to activate first and then also complete the KYC process.
EPF Withdrawal Circumstances and Eligibility
Basically, if you want to withdraw your money from PF account no would oppose that but as per the government rules there are certain set of requirements and eligibility that you need to have. Let us go over those circumstances when you are able to withdraw your money from EPFO portal.
Retirement: When you have completed your term of service and have retired from your work then you are free to withdraw all your money from the PF account. But you will not be able to withdraw any money from the pension account.
Transfer of PF from one Employer to Another: So, one of the main things we forget when we change our jobs is that we have to transfer the PF money from the old employer to the new one. This is required because you will only be able to withdraw from one employer at the end and if you do not do this then it might take quite an effort to get your PF from previous employer as well.
Unemployed for 2 months: If you are not employed for 2 months and more then you are eligible to withdraw the money from your PF account in any circumstance.
Partial PF Withdrawal: There are many reasons where you are allowed to partially withdraw your PF money up to 50% to 90% in total.
Some of those reasons are
- Purchase of House or Land
- Home Loan Repayment
- House Renovation
- Before Retirement
EPF Withdrawal Online – How to Withdraw PF using UAN Number
The main question that might be sizzling around your head would obviously be how you can now with draw the money from the PF account, We are going to show you how you can withdraw via online first.
- Go the EPFO UAN official website https://unifiedportal-mem.epfindia.gov.in
- Login with your UAN IDF and password
- Enter captcha as well
Now you are on UAN profile
- Go to “Online Services”
- Claim (Form-31, 19 & 10C)
- During this step we have to enter the last four digits of the bank accounts and click on verify
- Click on the “Yes”
- Click “Proceed for Online Claim”
Now the “Claim Form” will show up
- Select the type of claim based on your preference which are available under “I Want To Apply For” tab.
- Select the claim, claim reason
Most important options to fill for the amount with your address
- Click on Submit button to submit your claim process
In this manner you can apply for your PF money claim anytime without much hassle through online EPFO portal, Previously we used to apply via offline form filling which was a very tedious and hard process, but seemingly the online advancement has helped employees all across Indian a lot by bringing in the EPF online withdrawal process.
Note: After applying for the EPF money claim, you will receive the amount in your selected bank account in 15 to 20 days, and sometimes it might take around a month but that only occurs during rare cases such as Bank holidays or department holidays during off seasons.