Here’s how to withdraw money from your EPF account online
provident fund( EPF) is a mandatory fund for the Indian workforce.
- Both the employee and the employer contribute to the fund.
- While the EPF can be withdrawn in full at retirement, employees can also withdraw prematurely in certain circumstances.
AdvertisementIf you are looking to withdraw money online from your employee’s provident fund (EPF) account, you can do it through the Employees' Provident Fund Organisation (EPFO) portal. Employees' Provident Fund is mandatory for all employed in the Indian workforce and it is deducted from an employee's salary as well as the employer contributes to it.
The employee contributes 12% of his basic salary to EPF and a similar contribution is made from the employer to the EPF fund. The funds are saved in the EPF account of the employee and interest is also added to it. This helps the employee get savings, pension and insurance. While the entire amount of the EPF can be withdrawn at retirement, premature withdrawals are also possible online through the EPFO portal. Here’s how you can do it.
Withdrawal from EPF account
Before you begin to withdraw, you should note that the complete amount can be withdrawn when you have retired or have been unemployed for more than two months. While partial withdrawal is possible for conditions such as medical illness, marriage, calamity, and house renovation.To know more about the withdrawal criteria, read this FAQs document.
- First visit the UAN Member e-Sewa portal.
- Now, enter your Universal Account Number (UAN) and password.
- Enter the CAPTCHA and then click “Sign In”.
- Click the Online Services from the top menu and then select the CLAIM (FORM-31,19,10C&10D) option.
- You should now verify the details on the Online Claim form.
- After you have verified the details, enter your bank account number and click “Verify”.
- On the certificate of undertaking, click “Yes”.
- Now, click on the “Proceed for Online” claim.
- Next you will have to enter whether you are applying for the advanced
PFwithdrawal and from a drop-down menu 'Purpose for which advance is required', select from the available purposes for your withdrawal.
- You should now enter the withdrawal amount in the text box and then enter your address in the Employee Address section.
- Now, click on the certificate and submit the request.
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