- Why the account holder does not withdraw earlier:
- Withdrawal pf amount with an Aadhaar card:
- Procedure to withdraw pf offline:
- Ways to withdraw provident fund:
- Apply for pf withdrawal through UAN:
- Apply to Pf office:
- Purposes of the PF withdrawal:
Why the account holder does not withdraw earlier:
- If you withdraw an amount from your account within five years of opening, you have to pay tax for the interest that you earned in your pf account.
- The account holder can transfer the account to another new company if you switch your job.
- Withdraw the pf amount will provide the rules of the employee and employer for some limited period of employment.
Withdraw pf amount without signature:
Getting an attestation from the employer for the withdrawal is mandatory. Get the signature from the previous employer. You have to left the job and get the name from them. Follow the pf withdrawal process that is given without an employer signature.
Withdrawal pf amount with an Aadhaar card:
- For withdrawal pf the amount, the employee chooses the member option in the official portal. One can withdraw the amount by the Aadhar card.
- The salary bank account and Aadhar card are verified via the employer, and it is enabled in the member portal.
- Activate the UAN number, and you start the withdrawal process without the signature of the employer.
- Download the new employee provident fund from the EPFO web portal. In the form, enter the required detail.
- Account number of the bank and UAN should match on the epfo site.
also, check PF transfer
Procedure to withdraw pf offline:
Now the account holder can withdraw the amount from online with Aadhar card. They are using the online platform. You can withdrawal the amount quickly without any risk. If the Aadhar number seeded with uan number employee able to withdraw faster. NOTE: Now, aadhaar is mandatory.
- First, visit the web portal and download the form based on the type.
- The fille forms have to be submitted by the cheque of the bank.
- Submit all the required details in the document, if you are withdrawing pf by the employer.
- If the application of the withdrawal is not in the employer, you can get the attestation from the manager of the bank.
- After completing the form, you just submit the attested form to the provident fund office for other approvals.
Ways to withdraw provident fund:
PF Withdrawal is not allowed if the employee is not retired from the job. The withdrawal option is switched based on your situation and now available in the web portal.
- Visit uan member Portal, https://unifiedportal-mem.epfindia.gov.in/memberinterface/.
- Click on transfer, and claims fill the bank details and verify existing members’ details.
- Click on submit the claim; you may see claim code, which helps to track the specific application. Or you all claim made to epfo by uan number.
Meanwhile, track your epfo claim status here.
Apply for pf withdrawal through UAN:
The employee must download the form and fill, submit it to the pf office. After submitting the application form, the amount can be received within three months. You can directly apply for PF withdrawal by UAN. With the help of UAN, one can use the withdrawal form online.
Apply to Pf office:
After filling the claim form, the employee has to submit directly to the provident fund office. It requires an attestation process for applying for withdrawing.
The employee gets attested by any bank manager, magistrate, gazette officer, etc. for using for the withdrawal process.
Attaching the proof employment makes it easy to withdrawal the amount from your account. So, read the above instructions to withdraw your expected amount from the provident fund account are effective.
uan number benefits.
Purposes of the PF withdrawal:
There are many purposes that the employee withdraws the provident fund for their convenience.
The employee can withdraw the provident fund for their self-purpose, siblings, and others’ marriage. Though, they have completed the minimum of seven years of service to remove the fifty percent of the fund.
The employee can also withdraw the provident fund for the purpose of the medical treatment. For medical use, the employee can withdraw the provident fund up to six times their monthly salary for the parents, spouse, children, and others.
If the employee wishes to buy the property for their convenience, the property must register in his or her name.
This one requires a minimum of five years of service to withdraw the provident fund for the construction purpose. It is the important one for the employee to withdraw the fund once during the function of the provident fundholder.
If the employee withdraws the provident fund for the purpose of the loan repayment option, the property must register in his or her name.
It is the mandatory one for the employee to withdraw the provident fund quickly. This one requires a minimum of ten years of service to withdraw the provident fund about the monthly remuneration of the provident fundholder.
The employee must be 54 years old to withdraw the amount of the provident find in their respective account. You can also withdraw the provident fund for various like the physical and mental disability.
PF withdrawal after retirement
if The person cannot withdraw the entire amount at the end of tenure. After the completion of 15 years after retirement, the account holder can expand for five years.
Advance withdrawals are permitted in the following situations such as weddings (self or children), wedding (sister or brother) or post-secondary education for children, the purchase of land the construction or purchase of a home or home loan.
Home renovations, illness as well COVID-19 expenses.Advance withdrawals have proven to benefit many members facing financial hardship due to the COVID-19 outbreak , and the resulting cut in wages.