Want To Withdraw Money From Your EPF Account? Here’s How You Can Do It

The coronavirus pandemic has upended everybody’s life and likewise their monetary scenario, forcing them to search for methods to satisfy their rapid bills. To assist folks face this unprecedented scenario, the federal government, final 12 months, relaxed guidelines to permit Employees Provident Fund Organisation (EPFO) subscribers withdraw a portion of their retirement financial savings. An EPFO member can withdraw an quantity equal to 3 months of primary wage and dearness allowance or 75 per cent of the credit score stability within the account, whichever is decrease.

The EPFO has additionally made provisions for partial withdrawal in another instances, similar to for healthcare wants, marriage, calamity, and home renovation. An in depth information for untimely/partial withdrawal can also be obtainable on the EPFO web site. However, an entire withdrawal from an EPF account is barely attainable if a person retires or stays unemployed for greater than two months.

Money from the EPF might be withdrawn both offline or on-line. But earlier than you begin withdrawing your cash, you need to fulfill these three circumstances.

1. Your Universal Account Number (UAN) have to be activated.
2. Your Aadhaar quantity have to be verified and linked with UAN.
3. Your checking account, with the proper IFSC code, have to be linked to UAN.

You at the moment are prepared to use for EPF withdrawal. Follow these steps subsequent:

1. Visit the UAN Member e-Sewa portal.
2. Login to your account on the prime proper nook of the web site web page, utilizing your UAN.
3. Go to Online Services and choose declare (Form -31, 19,10C, and 10D).
4. A brand new webpage will seem together with your particulars. It will ask you to enter your checking account quantity. Do that and click on confirm.
5. Then a pop-up will seem in your display screen asking you to offer a ‘Certificate of endeavor’.
6. Once the checking account quantity is verified, click on on ‘proceed for on-line declare’.
7. The declare type will now require you to enter whether or not you’re making use of for advance PF withdrawal.
8. From the drop-down menu, choose ‘PF advance (Form 31)’.
9. Then you’ll have to choose the aim of withdrawal as ‘outbreak of pandemic (COVID-19)’ or every other from the record of choices offered within the drop-down menu.
10. Enter the quantity required and add the scanned copy of the cheque and enter your mailing deal with.
11. A one-time password (OTP) will likely be despatched to your cell phone quantity linked to your Aadhaar. Enter the OTP and submit the certificates.
12. The EPFO web site could ask you to submit scanned paperwork for the aim for which you’ve gotten stuffed the declare type. The request will have to be permitted by your employer.

It could take 15-20 days to obtain the cash in your checking account if the small print you offered match with these within the EPFO database and your declare is accepted by it.