PF Account Status: If we do a job somewhere, then we get salary every month. With this we fulfill our needs. At the same time, every month some money is deducted from the salary of the employed people as PF, which is deposited in their PF account.
PF account is a big deal for every employee working in the private sector. The part which is deducted from his salary and added to it, is not only useful after retirement, but also proves to be very effective for sudden needs. However, withdrawing money from your PF account or transferring it to another current account is completely different from withdrawing money from a bank account. But by following some easy steps, you can easily accomplish this task.
How much amount can be withdrawn from the account
Earlier, PF money could be withdrawn after retirement or for buying a house and higher education of children, but during the situation arising out of the Korana epidemic, the Employees’ Provident Fund Organization (EPFO) simplified the process of withdrawing money from the PF account. Also, now the account holder can withdraw money from his account whenever he wants. However, the withdrawal limit has been set for this. You cannot withdraw the entire money while doing the job. According to the rules, any account holder can withdraw equal to three months’ basic salary and dearness allowance or 75 percent of the total deposit from the PF account. The lesser of these, the more money can be withdrawn.
Read Also: EPFO How to update bank account details of employees in their EPF account! Step by step complete information
Benefits of claiming online
Let us tell you here that if you need money and you want to withdraw money from PF account for this work, then claiming online will be more beneficial for you. The big reason for this is that the online claimants get this money in the bank account within three days. Instead of those who claim offline, they may have to wait for around 20 days. So let’s know how you can withdraw your PF money through online medium sitting at home.
Important things to know before withdrawing PF
To withdraw money online, PF account should be linked with your Aadhar card.
The account holder’s UAN number should be activated.
UAN number should be linked with Aadhaar.
Bank details and IFSC code should also be linked with the UAN number.
In this way you can withdraw money online
1- By going to the member portal of EPFO, first click on Services option in the menu and then click on For Employees.
2- Now clicking on Member UAN/Online Service (OCS/OTCP) on the new page will open the login page.
3- Login here with the help of your UAN number and password and when the new page opens, go to Online Services.
4- After this select CLAIM (FORM-31, 19 & 10C) from the drop down menu. After this another new page will open.
5- Here you have to verify your bank account number, after which the Certificate of Undertaking will open, which is accepted.
6- Now click on the Proceed for Online Claim option visible. Doing so will open a form.
7- Here select PF ADVANCE (FORM – 31) from the dropdown in front of I want to apply for.
8- After this you will be asked about the reason for withdrawing money and the amount, this process will be completed as soon as you mark the checkbox.
9- After completing all the steps of this process, you will get a reference number from EPFO.
10- Now with the help of this reference number, you can check the status of the amount claimed from the PF account.
