How to Withdraw PF Amount Online & Offline in 2024: The Employee’s Provident Fund (EPF) is a retirement scheme that all salaried employees can join. The Employees’ Provident Fund Organization oversees the EPF scheme (EPFO). The employee and the employer put the same amount of money into the EPF scheme. At retirement, the employee gets a lump sum that includes both their contributions and the contributions made by their employer. Both the employer and the employee make a contribution of 12% of the employee’s basic salary.
How To Withdraw EPF Amount Online & Offline
It’s important to remember that PF deductions are required if a company has 20 or more employees who earn basic pay plus a dearness allowance of up to Rs 15,000 per month. You can get the money physically or online. You can use the online withdrawal claim service only if your Aadhaar number is linked to your UAN. In the past, employees had to get their employers’ signatures to withdraw their money.
Up to 75% of the money can be taken out in different situations, such as “Education or Marriage,” “Medical Treatment,” “Construction Purchase of Flat/House/Plot,” “Repayment of Loan,” “Renovation House,” and “Pre Retirement.” Still, withdrawals are subject to certain rules. Before requesting a withdrawal, you should ensure your request meets the rules.
Steps To Withdraw Amount From PF Account Online
By using the below steps, you can withdraw the EPF amount online :
Step 2: Log in with your UAN and Password. The next step is to complete the “Claim (Form-31, 19, 10C, and 10D)” form online. You can find these forms in the online services menu. After entering your bank account number, you must check the details.
Step 5:
After you enter the amount needed or you want to withdraw, you will get an OTP on the phone number you used to sign up for Aadhaar. Once OTP is verified, you can send your request.
Watch on Youtube | |
---|---|
How To Withdraw EPF Amount Online & Offline | https://youtu.be/kReL8ew0YkE |
Steps To Withdraw Amount From PF Account Offline
EPF’s offline withdrawal process is explained below.