EPF Withdrawal: Are you getting PF withdrawal every month? Are you also a BF subscriber? Then this post will help you.
EPF Withdrawal: Employee Provident Fund (EPFO) is deducted from their salary every month for office-based employees. It is usually the first step towards a pension fund for employees. Your company deducts a certain amount from your salary every month and deposits that amount in the PF account. The company will also deposit the same amount in the employee’s account. The government also pays annual interest to PF subscribers on that amount.
Is your PF Amount deducted every month? Are you also a BF subscriber? Then this post will help you. If you are a salaried person, money deposited in PF is useful for you. Along with this, PF is considered as the most important component of salary. Generally we withdraw PF money when we retire. However, there may be situations where we need to take a PF loan during some urgent needs and on some special occasions when we need additional funds.
PF subscribers now need not roam anywhere to withdraw PF money. We can withdraw PF money in very simple ways. It is important to know when the PF amount is useful.
Apart from withdrawing the PF amount after retirement, PF subscribers can also withdraw the PF amount in full or a specified amount in certain cases.
Three years ago, during the coronavirus outbreak, employees were given the facility to withdraw money in advance. As per PF norms, employees can withdraw money from their PF account for many purposes, like house purchase, children’s education, marriage, home repairs, etc.
Apart from this, EPFO also provides withdrawal facilities to employees even if they leave the job. If the employee does not find another job within one month after leaving the job, in such a situation he can get 75 percent refund.
Procedure to withdraw PF amount from home
Process of withdrawing money from PF online:
- Go to member portal of EPFO.
- After this, click on the Services option in the menu.
- After this click on For Employees.
- Now select Member UAN Online Services.
- Now you need to log in with the help of UAN and password.
- Select Claim Form-31, 19 & 10C in Online Services.
- Now you need to verify the bank account.
- Certificate of Undertaking should be accepted.
- Also click on Proceed for Online Claim option.
- In the new form, select PF Advance from the dropdown before ‘I Want To Claim For’.
- Mention the reason for the refund and the amount required.
- Now tick the check box to complete the process.
- After that note down the reference number to check the status.