Epfo Update – Important news for PF account holders. Actually a new update has come from EPFO. Under which it has been told that now how much money can be withdrawn by PF account holders.
PF Login: Some part of the salary of the employed people definitely goes to the Employees Provident Fund (EPF) every month. Through this, people feel comfortable in collecting funds for retirement. However, it has also been seen many times that due to some situations people have to withdraw PF money early.
In such a situation, here we are going to tell you in detail about the process of withdrawing PF money, so that you do not face any kind of problem. Let’s know about it…
Who can withdraw PF money?
- There should also be some qualification to withdraw PF. PF money can be withdrawn only because of these eligibility criteria.
- You are eligible to withdraw at least 90% of the corpus before one year of retirement.
- You can withdraw up to 75 percent of the fund after one month of unemployment. After the employee gets a job, the remaining amount will be transferred to the new EPF.
- You must have an active UAN and your bank details including Aadhaar and PAN must be linked to your UAN to withdraw money from EPF.
Document-
- To withdraw EPF people have to submit the following documents.
- An attested copy of the KYC documents of the applicant (Aadhaar Card, Voter ID, Passport or Driving License)
- A canceled check or updated bank passbook or any other document that can be used to verify the bank account details of the applicant.
- ITR Form 2 and ITR Form 3 are required if the employee withdraws EPF before 5 years of continuous service.
- Bank account details
- Revenue stamp if you opt to receive the amount in your bank account.
- Duly filled EPF claim form.
Pay attention-
To withdraw money from your EPF account online, your mobile number should be linked with your Aadhaar card number. Note that withdrawals can be done easily online with minimum paperwork. You do not need to visit your previous employer or Employees’ Provident Fund Organization (EPFO) office for verification.
