EPFO Withdrawal Process: A part of the salary of people working in the organized sector is deposited in the account of the Employees’ Provident Fund Organization. This money can be withdrawn by the account holder after retirement planning. Apart from this, EPFO also allows account holders to withdraw money in case of emergency. Explain that part of the basic salary of every salaried person and an equal part is deposited by the company in the PF account. The government pays interest on this.
Under what circumstances money can be withdrawn from EPFO
If a person has attained the age of 60 years, then he can withdraw all the money deposited in EPFO. Apart from this, you can withdraw money from PF account for children’s education, marriage expenses, building a house, in case of medical emergency. Along with this, during the Corona period, the government had given permission to the people to withdraw money. If a person withdraws money in the PF account within 5 years of his job, then in such a situation a TDS of 10 percent will also be deducted.
You can withdraw PF money sitting at home
Let us tell you that for the convenience of PF account holders, the government has given the facility of withdrawal sitting at home. You will not have to make rounds of the EPFO office to withdraw money from PF account. You can easily withdraw money online (PF Withdrawal) sitting at home. This money will come to your account in just 72 hours. According to the rules of EPFO, you can easily withdraw 75% of the total deposit amount. Along with this, if you withdraw money offline, then you will have to wait for 20 days for this.
Rules for withdrawing money online from EPFO-
- For this you first visit the online portal.
- Then here you select the Services option.
- After this, by clicking on the For Employees option, select Member UAN / Online Service (OCS / OTCP).
- After this the login page will open in front of you.
- Enter your UAN number and password here.
- After this select CLAIM (FORM-31, 19 & 10C) in the drop down.
- After this you will be asked for bank details, which should be filled.
- After this, the option of Certificate of Undertaking will be available, which is accepted.
- Select the option of Proceed for Online Claim.
- After this, select PF ADVANCE by clicking on the option I want to apply.
- Then fill the reason and amount for withdrawing money from you.
- After this your PF withdrawal process will be completed and money will come in your account in 3 days.
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