Employees’ Provident Fund Organization (EPFO) provides the facility to EPFO members to take partial withdrawals and advances from provident fund collections in select situations. Today, through our article, we will tell you about some such circumstances in which only a certain part of the PF amount can be withdrawn. EPFO members can withdraw PF amount for purchase or construction of house, loan payment, non-payment of salary for 2 months, marriage of daughter/son/brother/own, illness of family member etc.
Let us tell you that how much amount can be withdrawn in any situation like ‘Withdrawal’ or ‘Advance EPF’, today we will also give you information about this. In case of taking advance, EPFO member has to fulfill certain criteria. For advance or partial withdrawal, you can apply online for ‘PF Withdrawal Form’ by visiting the EPFO member portal.
How to submit online PF Withdrawal application
To make the process of withdrawing PF amount easy and save time, EPFO had started the online facility. Before applying on EPFO portal, it is important for you to know that your UAN (Universal Account Number) is activated or your number should be active to activate Universal Account Number. Your account should be linked with Aadhaar, PAN card and bank details and IFSC code.
Also read: How to check PF balance and passbook online
online way to withdraw pf
1) First of all go to EPFO portal.
2) Then login to the account by entering UAN (Universal Account Number), Password and Captcha code.
3) After that click on KYC option in Manage tab and check whether Aadhaar, PAN card and bank details are correct and verified or not.
4) After verifying the KYC details, go to the online service and select the claim option.
5) Member details, KYC details and service details will appear on the claim screen. After this click on ‘Proceed For Online Claim’ to submit the claim form.
6) In the ‘I Want To Apply For’ section of the claim form, you will see Full EPF Settlement, EPF Part Withdrawal (Loan/Advance) or Pension Withdrawal options. You may not be eligible for PF withdrawal or pension due to service criteria, in which case you will not see this option.
Advance can be taken in case of purchase or construction of house
EPFO allows its members to withdraw a maximum of 24 months of basic wages and DA to buy land. Maximum 36 months basic wages and DA for house/flat/construction or employee and employer share with interest or total cost of house/construction whichever is less can be withdrawn. An employee who has been an EPFO member for 5 years can apply for advance. PF money can be withdrawn only once during the entire tenure of the job. For the advance, the employee will not require any document other than the release.
Also read: This is the way to link Aadhaar number with PF account
for loan payment
EPFO allows the member to withdraw a maximum of 36 months’ basic wages and D or interest along with employee and employer share or the total outstanding amount of loan and interest whichever is less, in special cases. An employee who is an EPFO member for 10 years can apply for advance only. For partial withdrawal, the employee will need a certificate from the agency giving details of the outstanding amount and interest.
Advance will also be available in special cases
EPFO members can also apply for advance amount in case of closure of the company or getting fired or not getting salary for 2 months (other than strike). In such a situation, the employee share and the interest earned on the amount can be withdrawn. For taking advance, the employee will need a certificate issued by the employer. The member can withdraw a maximum of 50 percent of the amount along with interest.
to cure illness
The employee can withdraw his basic and DA amount in full for a maximum of six months. The employee can withdraw the money for the illness of himself or any member of the family. No membership period is required for this purpose.
for marriage
EPFO member can withdraw 50% (employee share) PF amount along with interest for marriage of self/daughter/son/sister etc. Note, the employee who is an EPFO member for 7 years can only apply for PF amount.
for higher education
50 percent (employee share) amount can be withdrawn along with interest for higher education (for post graduation) of son or daughter. The employee who has been an EPFO member for 7 years can only apply for the PF amount. Certificate related to the course and details of the estimated expenditure by the institute will have to be provided.
one year before retirement
After attaining the age of 54 years and one year before retirement, the EPFO member can withdraw 90% of the PF amount as a partial withdrawal.