EPF Advance For Marriage: Are you also busy raising money for your daughter’s marriage? Here let us tell you that you can withdraw advance money for your daughter’s marriage from your PF or EPF account.
EPF Advance For Marriage : Are you also busy raising money for your daughter’s marriage? Here let us tell you that you can withdraw advance money for your daughter’s marriage from your PF or EPF account. Money can be withdrawn in advance from the Employee Provident Fund (EPF) for emergency or big expenses. Here we are telling you about the government rules in which emergency you can withdraw money from EPF.
EPF members can withdraw money from their EPF account for the following reasons .
Medical Emergency
Education
Marriage
To buy land
Home renovation
Unemployment
Children’s marriage
The member can withdraw advance from EPF on completion of 7 years of membership.
When can you claim advance?
- EPF advance for marriage
- Marriage of epf member
- Marriage of son/daughter
- Brother/sister marriage
- You can withdraw this much money from EPF
- You can withdraw up to 50% advance
EPFO rules for buying a house or repaying a home loan
You can withdraw money from your PF to buy your house. According to Section 68BB of the EPF scheme, you can also take money from EPF to repay your home loan. For this, the house should be registered with your personal or joint name. Home loan applicant must have a record of PF contribution for at least ten years. There is no tax on the amount of PF withdrawn after completion of five years of continuous service.
This is how you can withdraw advance money from PF
To withdraw advance money from PF, click on Online Advance Claim in the upper corner of the home page of www.epfindia.gov.in website. You have to login to https://www.epfindia.gov.in/site_en/index.php.
Step 1- Sign in to the UAN Member Portal with your UAN and password.
Step 2- Click on ‘Online Services’ tab and select the form to withdraw PEP advance from EPF. Select ‘Claim Form (Form-31, 19,10C and 10D)’ from the drop-down menu.
Step 3- Enter the last 4 digits of your bank account in the given window and verify.
- After verification, click on Proceed for Online Claim
- Select PF Advance from drop down (Form 31)
- Choose your reason and enter the amount of money you want to withdraw. Upload a scanned copy of the check and write your address.
- Click on Get Aadhaar OTP and write the OTP received on Aadhaar linked mobile.
- Your claim has been filed. PF claim money will arrive in a few days.
Withdraw money from EPF wisely because once you withdraw money, you cannot put money back in it. To avail EPF advance, the member has to submit Form 31 to the employer or company. After this the employer will verify the application and after that submit it to EPFO for approval. Once approved, the EPF advance money will be deposited into the member’s bank account.
