PF Withdrawal: If you are a Provident Fund (PF) account holder then this news is of your use. Actually, the central government has increased the limit of PF withdrawal from Rs 50,000 to Rs 1 lakh.
PF Withdrawal: If you are a Provident Fund (PF) account holder then this news is of your use. Actually, the central government has increased the limit of PF withdrawal from Rs 50,000 to Rs 1 lakh. Union Labor and Employment Minister Mansukh Mandaviya gave information about this change. He told that if you are a contributor of Employees’ Provident Fund Organization (EPFO) and there is a family emergency, then you can withdraw more money from your PF account than before.
The Union Minister also informed that the government has also relaxed some rules while giving relief to EPF account holders. Under this, if the employee leaves the job within the first six months of the new job, then there will be exemption to withdraw money from the PF account. He said – Earlier one had to wait for a long time, but now PF contributors can withdraw even in the first six months. This is their money. Union Minister Mandaviya, while indicating new updates related to PF, said that the government is also planning to increase the income limit for mandatory provident fund contribution. Let us tell you that EPFO is currently giving 8.25% interest on the deposited money to PF account holders.
How can you withdraw PF money
1. Emergency situations related to medical treatment, education or family are usually accepted by the Employees Provident Fund Organization (EPFO).
2. Go to the EPFO member e-service portal (https://unifiedportal-mem.epfindia.gov.in/memberinterface/) and log in using your UAN (Universal Account Number), password and captcha.
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3. Once logged in, go to the ‘Online Services’ tab and select ‘Claim (Form-31, 19, 10C & 10D)’ from the drop-down menu.
4. Then verify your personal details, such as name, date of birth and other information, before proceeding. Make sure your Aadhaar link and KYC details are updated.
5. For partial withdrawal, select Form 31 and select the reason for withdrawal from the list.
6. Once submitted, you will receive an OTP on your Aadhaar linked mobile number. Enter this OTP to authenticate the claim.
7. After submission, you can track the status of your claim under the ‘Track Claim Status’ option in the ‘Online Services’ tab.
8. Usually, the money is transferred to your registered bank account by EPFO in 7-10 working days.
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