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How to Withdraw Provident Fund (PF)
Employee Provident Fund (EPF) members can withdraw the entire sum amount accumulated in their PF account after they retire. However, the EPF rules allow subscribers to make premature withdrawals to meet various immediate expenses.
A member can make advance PF withdrawals money for buying a house, during children's marriage or education, after he/she leaves the job or any other type of emergencies such as illness, natural calamities among others. The union govt has also allowed advance PF withdrawals to deal with the economic crisis in wake of the coronavirus pandemic. Under this, members can withdraw up to 75 per cent of the employee's contribution to the corpus or the sum of basic wages and dearness allowance for a period of three months (Whichever is less).
A member can make advance PF withdrawals money for buying a house, during children's marriage or education, after he/she leaves the job or any other type of emergencies such as illness, natural calamities among others. The union govt has also allowed advance PF withdrawals to deal with the economic crisis in wake of the coronavirus pandemic. Under this, members can withdraw up to 75 per cent of the employee's contribution to the corpus or the sum of basic wages and dearness allowance for a period of three months (Whichever is less).
A step-by-step guide to withdraw money from PF account
1) EPF members can withdraw money from their PF account through online mode from the comfort of their homes.
2) The member has to log in to the EPF member portal - unifiedportal-mem.epfindia.gov.in.
3) After logging in, the member needs to go to the 'Online Services' and select claim form 31
4) In the next step, the user has to enter the bank account number linked with the PF account and click on "verify".
5) After verifying the bank account, the user is redirected to a withdrawal form. Choose the option of PF Advance (Form-31). Later, the member needs to select the purpose for which advance is required. Users will only get those options under which they are eligible. In the next step, proceed to fill in the address details.
6) The member is asked to provide a scanned copy of a bank passbook clearly showing the IFSC code and the account number.
7) After accepting self-declaration, the member must submit the request by verifying the Aadhaar-linked phone number through an one time password (OTP).
8) The request will be registered on the portal. EPF members can check status of the claim through "check claim status" under online services.