PF Withdrawal Process: To withdraw money from PF account, you can apply offline or online. If you are unemployed for more than two months, you can withdraw the entire PF amount. Up to 50 percent of an employee’s share in EPF can be withdrawn for marriage.
PF Withdrawal Process: The entire money can be withdrawn from the PF account at the time of retirement. Also, if a person remains unemployed for more than 1 month, he can withdraw 75% of the money. If he remains unemployed for more than two months, he can also withdraw the remaining 25% money. Partial withdrawal from PF account can be done only under certain circumstances. If there is a medical condition, you can withdraw up to 6 times the monthly basic salary or the total employee share with interest.
How much money can be withdrawn for marriage?
Up to 50 percent of an employee’s share in EPF can be withdrawn for marriage. For this it is necessary to complete 7 years of service. This money can also be withdrawn for the marriage of children and brother/sister. Up to 50 percent of the employee’s share in EPF can be withdrawn for higher education of oneself or children. For this it is necessary to complete 7 years of service.
You can also withdraw money to buy a house
You can also withdraw PF money to buy a house or land or to build a house. 24 times of monthly basic salary + DA can be withdrawn to buy land. To buy a house, 36 times the monthly basic salary + DA can be withdrawn. However, for this, 5 years of service should be completed. If you want to renovate your house, you can withdraw PF money for that also. For this, employee’s contribution can be withdrawn up to 12 times the monthly allowance and DA along with interest. For this it is necessary to complete 5 years of service.
Can repay home loan
PF money can also be withdrawn for repayment of home loan. For this, 36 times the monthly basic salary + DA or the total outstanding principal and interest on the housing loan can be withdrawn. For this it is necessary to complete 10 years of service. You can make partial withdrawal even before retirement. In this you can withdraw 90 percent of the total fund. This amount can be withdrawn after attaining the age of 58 years. This should be taken out one year before retirement.
You can withdraw money through physical or online application
Money from PF account can be withdrawn by giving physical or online application. For physical application, you will have to download the new Composite Claim Form (Aadhaar)/Composite Claim Form (Non-Aadhaar). You will have to submit this form to the nearest EPFO office.
Withdraw PF money online like this
To withdraw PF balance online, your UAN must be activated. The mobile number used to activate UAN must be active. UAN should be linked to your KYC like Aadhaar, PAN, bank details and IFSC code.
Step 1. First of all you have to go to the UAN portal (https://unifiedportal-mem.epfindia.gov.in/memberinterface/).
Step 2. Log in with your UAN and password. Enter the captcha and click on the ‘Sign In’ button.
Step 3. Now click on ‘Manage’ tab and select ‘KYC’. Now check whether your KYC details are verified or not.
Step 4. Once the KYC details are verified, go to the ‘Online Services’ tab. Now select ‘Claim (Form-31, 19 10C & 10D)’ option from the drop down menu.
Step 5. Now enter your bank account number and click on ‘Verify’. To sign the undertaking certificate, click on Yes and proceed. Now click on ‘Proceed for Online Claim’.
Step 6. Now enter the necessary information asked in the claim form.
Step 7. Now select ‘PF Advance (Form 31)’ to withdraw funds. Submit your application now.
