Business News Desk, Many EPFO members want to withdraw money from their PF account, but are not able to succeed due to not knowing the correct process. PF is a retirement fund. The employee’s PF fund is prepared to meet the expenses after retirement. Therefore, money should not be withdrawn from it. One should think about withdrawing PF money only when there is a major compulsion. Let us know when you can withdraw your PF money and what is its process. EPF account holders can withdraw partial or full amount from their account based on their eligibility. Generally, the entire EPF amount can be withdrawn only when the member is unemployed for two months or more. Apart from this, you can withdraw the entire amount from your PF account after retirement. Let us know in which situations you can make partial withdrawal from your PF account:
marriage of self or child
Medical Requirements
to buy a house
To pay off home loan
to renovate the house
For most of these partial withdrawals, the EPFO member must be an EPF member for a minimum of five or seven years.
Process to withdraw PF money
For this you must have Universal Account Number (UAN), member’s bank account number, ID proof and a cancelled cheque.
Now you have to go to the UAN portal and enter your UAN number and password.
Now you will get an OTP on the mobile number linked with Aadhaar. Enter this OTP and captcha.
Now your profile page will open. At the top right of the web page, you will find the “Online Services” option. Now click on ‘Claim’ from the scroll down options.
Now you have to verify the member details by entering the bank account number linked with EPFO.
You will then receive a Certificate of Undertaking stating that the claimed amount will be credited to this bank account by the EPFO. Now you have to click ‘Yes’ to the terms and conditions.
Now you can proceed for online claim. As soon as you click on this option, a section will open in which you will have to enter more details.
Here you have to provide your address and also upload some documents like scanned cheque and Form 15G.
In this way, the claim will be submitted to withdraw the balance of EPF account.
