Employees’ Provident Fund Organization (EPFO) recently announced 8.10 percent interest for its members for the financial year 2021-22. Since then, it is expected that soon the interest money can be transferred to the employees’ account. The EPFO announces the interest rate every year in the current financial year, after which the amount is sent to the account of the employees.
EPFO transfers the amount every year in the account of employees on or after Diwali, but this time the amount will be transferred before that. However, in some reports it has also been said that money can be transferred to the PF account till June 30. However, no official statement has been issued on this yet.
What is necessary to withdraw PF money
It is mandatory to link your Aadhar card with Universal Account Number (UAN) to deposit money in PF account. It can be done online through EPFO website or also through UMANG mobile app. It is also important to complete the “Know Your Customer” or KYC formalities before withdrawing PF. PAN card is required for KYC.
how to withdraw
Firstly visit the UAN portal unifiedportal-mem.epfindia.gov.in/memberinterface/.Login using your UAN and password and enter the captcha for verification.Now go to the ‘Online Services’ tab and select the drop-down menu From there select the option ‘Claim (Form-31, 19 & 10C)’. On the new page enter your bank account number and click on ‘Verify’. Now click on ‘Yes’ and proceed. Click on ‘Claim Online’. Now in the claim form, select the claim you require under ‘I want to apply for’ tab. Select ‘PF Advance (Form 31)’ to withdraw your fund. Then enter the purpose of such advance, the amount required and the employee’s address. Now, click on the certificate and submit your application. You may be asked to submit the scanned documents for the purpose for which you have filled the form After the withdrawal request is approved by the employer, the amount will be remitted to your bank account. It usually takes 15-20 days for the money to be credited to the bank account.
