EPFO allows employees to withdraw money from their PF fund for emergency and special purposes. If you need some money for treatment, marriage, or building a house, then you can make a partial withdrawal from your PF fund.
The provident fund is the biggest capital of the salaried class.
For salaried people, a provident fund is the biggest capital of their life. 12% of the basic salary of the employee is deposited in PF every month. The company also contributes the same amount. Through PF, salaried people can also fulfill some of their dreams. After retirement, they can use this fund for their needs. PF account is regulated by the Employees Provident Fund Commission i.e. EPFO. EPFO allows employees to withdraw money from their PF fund for emergency and special purposes.
In what situation can you withdraw money?
If you need to get emergency treatment, then you can withdraw some money from the PF account. You will also be able to withdraw money from the PF fund for children's education. If you or your brother-sister or son-daughter are getting married, then also withdrawal can be made from the PF fund. You can also withdraw money from the fund for buying a house or for repair work in the house.
UAN number is necessary
When a PF account is opened, a 12-digit number is issued to you by EPFO. This is called Universal Account Number i.e. UAN. Whether you want to check your EPF balance, download a passbook, or change your mobile number, it is necessary to have a UAN number to do any kind of work.
How to withdraw PF money online?
Go to EPFO portal (https://www.epfindia.gov.in/) or Umang app. Login with UAN and password. The home page will open. Go to online services. Now go to online services and select the 'Claim' section there. Verify your bank account and then click on 'Proceed for online claim'. Now select PF Advance Form 19. Fill in the required details in the form like a reason for withdrawal, and how much money to withdraw. Also, upload a scanned copy of the bank account check or passbook. Finally, give your consent and verify it with Aadhaar. Now tell the reason for withdrawing money and submit.
How to withdraw money from the Umang APP?
Register in the Umang App through an Aadhaar number or mobile number. Now select the option of "EPFO" service. After this login through an Aadhaar number or mobile number. Enter the OTP received on the registered mobile number. Now go to the option of "PF Withdrawal" and click on "Claim Form". After this fill in all the required details and submit. Now enter the OTP received on the mobile number again. Your claim will be submitted.
How much time does it take to come to the bank account?
After giving the request for withdrawal of money from the PF account, money comes to your bank account within about 7 to 10 working days. If the money does not arrive within this period, you can contact the helpline number 1800-180-1425.