Find out how to withdraw cash from EPF account on-line? Observe these steps – India TV

In case you are a salaried worker, likelihood is you have got an Worker Provident Fund (EPF) account maintained by the Workers Provident Fund Group (EPFO). This account aggregates the month-to-month contributions of the worker and the employer, and its main function is to bind the retirement pool. A portion of this contribution can be given to the pension fund.

Nevertheless, EPFO ​​permits partial withdrawal out of your PF account below sure circumstances. Right here’s an in depth have a look at guidelines and procedures for withdrawing cash out of your PF account.

When are you able to withdraw a partial quantity out of your PF account?

1. Marriage: Your individual or your youngster’s marriage ceremony.
2. Shopping for a house: To purchase property.
3. Medical emergencies: For well being bills.
4. House enchancment: House enchancment or restore is finished.
5. House mortgage compensation: To repay the housing mortgage.

You want to be an EPF member for not less than 5 to 7 years to qualify for many of those partial exemptions.

Step-by-step course of for PF withdrawal

• Step 1: Go to the UAN portal and log in utilizing your Common Account Quantity (UAN) and password.
• Step 2: An OTP will probably be despatched to your Aadhaar-linked cellular quantity. Enter the OTP together with the CAPTCHA code.
• Step 3: As soon as logged in, your profile web page will seem. Click on on the “On-line Providers” choice positioned on the top-right nook of the web page. Scroll down and choose ‘Declare’ from the dropdown menu.
• Step 4: Confirm your particulars by coming into the checking account linked to your EPF account.
• Step 5: You’ll obtain a Certificates of Enterprise, confirming that the claimed quantity will probably be credited to your verified checking account. Conform to the phrases and circumstances to proceed.
• Step 6: Click on on ‘Proceed for On-line Declare,’ and a brand new part will open requiring extra particulars about your withdrawal.
• Step 7: Present your present deal with and add vital paperwork resembling a scanned copy of a canceled cheque and Kind 15G (if relevant). Submit the declare kind to finish the method.

Factors to recollect:

• Guarantee your Aadhaar is linked to your UAN for a seamless course of.
• The declare quantity is straight credited to your verified checking account.

This simple course of permits EPFO members to entry their financial savings throughout essential instances whereas sustaining transparency and effectivity.

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