PF Withdrawal Rule: Know How to Withdraw Money from Your EPF Account Online

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posted on 3 years ago — updated on 1 second ago

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The contributions made by the employee, employers and the interest on it remain saved in an EPF account of the workers and can be withdrawn with certain conditions.

The Employees’ Provident Fund Organisation (EPFO), a social security organisation managed by the government of India has made it possible to withdraw/transfer Employees? Provident Fund (EPF) online through its website. In India, all the regularised workers need to contribute to the fund with 12 per cent of their basic pay (and dearness allowance, where applicable) each month. The contributions made by the employee, employers and the interest on it remain saved in an EPF account of the workers and can be withdrawn with certain conditions.

The fund offers the workforce in India with saving, pension, and insurance benefits. A worker may withdraw the complete amount from his EPF account at the time of his retirement or he/ she remains unemployed for more than two months. Provisions have been made by EPFO for partial withdrawal in some cases, such as medical illness, marriage, calamity, and house renovation.

How to transfer money from EPF online

Step 1: Visit the ‘Unified Member Portal’ and login with Universal Account Number (UAN) and password

Step 2: Go to the ‘Online Services’ and click ‘One Member — One EPF Account (Transfer Request)

Step 3: Verify ‘Personal Information’ and ‘PF Account’ for present employment

Step 4: Click ‘Get Details’, PF account details of previous employment would appear

Step 5: Choose either previous employer or current employer for attesting the form

Step 6: Click the ‘Get OTP’ to receive OTP on UAN registered mobile number. Enter OTP and click on ‘Submit’

After submission of OTP, you may be asked to submit scanned documents of the purpose for which you have filled the claim form. By accessing the employer interface of the unified portal, the employer will digitally approve EPF transfer requests by accessing. It may take 15–20 days to receive the money in the bank account linked with your EPF account.

EPFO has shared this information in a tweet on their official Twitter account. EPFO manages workers’ provident and pension funds for post-retirement financial security.

Keywords: EPFO, EPF, Employees? Provident Fund, EPF Transfer, EPF Account

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