EPFO – If you are also a PF account holder then this news is for you. Actually, a new guideline has been issued by EPFO for PF account holders. Under which it has been told that when and how the customers can withdraw money.
Employees Provident Fund Organization members and Employees Pension Fund (EPF) account holders will not face any problem in withdrawing PF money, because now EPF offices will not be able to easily reject the claim. A new guideline has been issued in this regard.
EPFO members have been given relief from the problems they face in withdrawing PF money and the problem of repeated claim rejections. The Finance Ministry has said that the claims of EPFO subscribers should not be rejected more than once and the claims should be settled within the stipulated time.
It was said that cases of delay in payment and harassment are coming to the fore. It has been observed in many cases that claims were rejected for a particular reason and when it was resubmitted after correction, it was again rejected for other/different reasons. All responsible officers associated with EPFO should ensure that no claim is rejected.
When can members withdraw EPF money?
The amount deposited in EPF account can be withdrawn partially or completely. PF funds can be withdrawn when the employee retires or remains unemployed for more than 2 months continuously. At the same time, some part of the amount can be withdrawn in circumstances like medical emergency, marriage, home loan payment etc.
Online method to withdraw PF-
First of all, EPFO members log in to the UAN member portal with their UAN and password.
Now click on Online Services tab from the top menu bar and select Claim (Form-31, 19 & 10C) from the drop down menu.
After this your information will be shown on the screen. Enter the last 4 digits of your bank account and click on Verify.
Now click on Yes to sign the undertaking certificate and proceed.
Now select the Proceed for Online Claim option.
Select PF Advance (Form 31) to withdraw your PF funds online.
After this, a new section of the form will open, in which you will have to fill the Purpose for which advance is required and select the required amount and the address of the employee. Keep in mind that all the purposes of withdrawing money will be mentioned in red colour.
Now tick on verification and submit your application.
Depending on the purpose for which you have filled the form, you may be required to submit scanned documents.
Your company will have to accept your withdrawal request, after which the money will be withdrawn from your EPF account and credited to the bank account details you entered while filling the withdrawal form.
An SMS will be sent to your mobile number registered with EPFO. Once the claim is processed, the amount will be transferred to your bank account. This money usually arrives within 15-20 days.
