A good amount of money can be deposited under the EPF Scheme run by the Employees Provident Fund Organization (EPFO). You get the benefit of this fund as a pension after retirement. But do you know that making partial withdrawals from EPF is very easy? For this, it is very important for you to have some important information.
When can I withdraw money from my PF account?
It can also be withdrawn if emergency treatment is to be done. Money can also be withdrawn from the PF fund for the education of children. Apart from this, if you or your siblings or son-daughter is married to someone, you can also withdraw money from the PF account. Apart from buying a house, the amount can also be withdrawn from this fund for the repair work in the house. The government has recently increased the EPF withdrawal limit for personal financial needs from₹50,000 to₹1 lakh, up from the earlier limit of₹50,000.
Follow these 10 steps to withdraw EPF money
1. First of all, go to EPFO’s e-service portal.
2. After this, you have to log in to the EPFO member portal with your UAN (Universal Account Number) and password.
3. Now you have to fill in all the information sought on the portal, like your name, date of birth, PAN, Aadhaar number, and others.
4. Then you have to click on ‘Proceed’ for an online claim.
5. Now you have to select PF Advance (Form 31) given in the drop-down menu.
6. Here you have to give the reason for claiming the advance amount, which can be due to illness, education, or buying a house.
7. Now you have to enter your desired amount and provide the current address.
8. Then you have to sign the ‘Disclosure Form’.
9. Next, you have to click on Aadhaar OTP to get an OTP on your mobile number.
10. After entering the password, you need to click on ‘Validate OTP’ before submitting the claim form.
