Business News Desk – The Employees Provident Fund Organization (EPFO) is providing many facilities to its members. By investing in EPFO, on one hand, investors can create a big fund as well as get the benefit of pension. Apart from this, EPFO also gives the facility of partial withdrawal to the members. Now EPFO has changed the rules of partial withdrawal (EPFO Rule Change).
EPFO New Rule
EPFO has changed the rules for partial withdrawal. This information has been given by Union Labor Minister Mansukh Mandaviya. Mansukh Mandaviya said that the limit of partial withdrawal from PF account has been increased. Now EPFO members can withdraw Rs 1 lakh instead of Rs 50,000 from PF account. Apart from this, withdrawal can now be done within 6 months of starting the job. Earlier the member had to wait a long time for full withdrawal, but now it is not so. If an employee leaves the job within 6 months, then he can make full withdrawal from the PF account.
Process to withdraw money from PF account
Go to the e-service portal of EPFO. Click on the member option here.
After this, log in with the help of UAN, password and captcha.
After logging in, go to ‘Online Services’.
Now choose any one of Form-31, 19, 10C and 10D.
After this verify the personal details.
Now select Form 31 and mention the reason for withdrawal.
After this, fill the OTP received on the registered mobile number and submit it.
After submitting the form, go to ‘Online Services’ and track the claim. From here you can also check the status of the claim. Please note that the claim amount is transferred to the bank account by EPFO within 7 to 10 days.
When can you withdraw the amount
You can withdraw money from your PF account in case of medical, marriage, education or any family emergency.
