Why the account holder does not withdraw earlier:
- If you withdraw an amount from your account within five years of opening, you have to pay tax for the interest which you earned in your pf account.
- The account holder can transfer the account to other new company if you switch your job.
- Withdraw the pf amount will provide the rules of the employee and employer for some limited period of employment.
Withdraw pf amount without signature:
Getting an attestation from the employer for the withdrawal is mandatory. Get the signature from the previous employer, you have to left the job and get the signature from them. Follow the pf withdrawal process are given without employer signature.
Withdrawal pf amount with an Aadhaar card:
- For withdrawal pf amount the employee chooses the member option in the official portal. One can withdraw amount by the Aadhar card.
- The salary bank account and Aadhar card are verified via employer and it is enabled in the member portal.
- Activate the UAN number and you start the withdrawal process without the signature of the employer.
- Download the new employee provident fund from the EPFO web portal. In the form enter the required detail in the form.
- Account number of the bank and UAN should match on the epfo site.
also, check PF transfer
Procedure to withdraw pf offline:
Now the account holder can withdraw the amount from online with Aadhar card. Using the online platform you can withdrawal the amount easily without any risk. If the Aadhar number seeded with uan number employee able to withdraw faster. NOTE: Now aadhaar is mandatory.
- First, visit the web portal and download the form based on the type.
- The fille forms have to be submitted by the cheque of the bank.
- Submit all the required details in the document, if you are withdrawing pf by the employer.
- If the application of the withdrawal is not in the employer, you can get the attestation from the manager of the bank.
- After completing the form you just submit the attested form to the provident fund office for other approvals.
Ways to withdraw provident fund:
PF Withdrawal is not allowed if the employee is not retired from the job. The withdrawal option is switched based on your job and now available in the web portal.
- Visit uan member Portal, https://unifiedportal-mem.epfindia.gov.in/memberinterface/
- click on transfer and claims fill the bank details and verify existing members details.
- click on submit the claim,
- you may see claim code which helps to track the specific claim. or you all claim made to epfo by uan number.
meanwhile track your epfo claim status here.
Apply for pf withdrawal through UAN:
The employee must download the form and fill, submit it to the pf office. After submitting the application form the amount can be received within three months. You can directly apply for PF withdrawal by UAN. With the help of UAN, one can apply the withdrawal form in online.
Submit the application in Pf office:
After filling the claim form, the employee has to submit directly to the provident fund office. It requires an attestation process to applying for withdrawing. The employee gets attested by any bank manager, magistrate, gazette officer, etc for applying for withdraw process. Attaching the proof employment makes easy to withdrawal the amount from your account. So, read the above instructions to withdraw your expected amount from the provident fund account are effective.
Purposes of the PF withdrawal:
There are many purposes that the employee withdraws the provident fund for their convenience.
The employee can withdraw the provident fund for their self-purpose, siblings, and others marriage. Though, they have completed the minimum of seven years of service to withdraw the fifty percent of the fund.
The employee can also withdraw the provident fund for the purpose of the medical treatment. For the medical purpose, the employee can withdraw the provident fund up to six times of their monthly salary for the parents, spouse, children, and others.
If the employee wishes to buy the property for their convenience, the property must register in his or her name. This one requires minimum five years of service to withdraw the provident fund for the construction purpose. It is the important one for the employee to withdraw the fund once during the service of the provident fund holder.
If the employee withdraws the provident fund for the purpose of the loan repayment option, the property must register in his or her name. It is the mandatory one for the employee to withdraw the provident fund quickly. This one requires the minimum of ten years of service to withdraw the provident fund about the monthly remuneration of the provident fund holder.
The employee must be 54 years old to withdraw the amount of the provident find in their respective account. you can also withdraw the provident fund for various like the physical and mental disability.
PF withdrawal after retirement
if The person cannot withdraw the entire amount at the end of tenure. After the completion of 15 years after retirement, the account holder can expand for five years.