If an employee wants, he can withdraw the pension fund money deposited in the PF account. A part of the salary of the salaried people is deducted as PF. But if you want, you can also withdraw this money at the time of need.
New Delhi: A part of the salary of salaried people is deducted as PF. But if you want, you can also withdraw this money at the time of need. According to the rules of the Provident Fund Organization, out of the amount deducted from the employee’s salary every month, 8.3% is deposited in the Employees’ Pension Scheme and 3.67 percent goes to EPF every month. If the employee wants, he can also withdraw this pension fund if needed.
Pension will not be available after retirement
After withdrawing this fund, he is not entitled to get pension after retirement. The rule of EPFO says that if your job is more than 6 months and 9 years is less than 6 months, then you can withdraw pension fund. If you also want to withdraw pension fund, then for this you must know about Form 10C. Form 10C is filled and submitted to withdraw the pension fund or join with another job in the future. It can be filled and submitted both online and offline.
This is how to apply for pension fund
If you want to apply for withdrawal of pension fund, then you have to first visit the home page of UAN portal unifiedportal-mem.epfindia.gov.in/memberinterface/. After this, you have to fill it here by entering UAN No and Password. Here you have to click on the option of Online Service in the menu. After this you will see the option of claim. You have to click on it.
In the second step, you have to enter the last four digits of your bank account number. After that you have to click on the option of Verify. Then you have to sign by clicking on the option of Certificate of Undertaking and click on the option of Yes to agree to the term and conditions.
In the third step, you have to select the option of only pension withdrawal in the I want to apply for tab. Now you have to fill your complete address then tick the disclaimer and click on Get Aadhaar OTP.
In the fourth step, you will get an OTP on your mobile number registered with Aadhaar. Enter the OTP and click on Validate OTP and Submit Claim Form. After this your pension claim form will be submitted and after verification by EPFO, the funds will be transferred to your bank account.
