EPFO New Rules: Withdrawing PF funds has always been a challenging task for employees working in private companies. But now the EPFO ​​has simplified this process. Under its new rules and EPFO ​​3.0, the EPFO ​​has significantly simplified the process of withdrawing PF funds online. Furthermore, another major feature has been added to the new EPFO ​​rules: You will be able to withdraw PF funds directly from your ATM card. Although this feature has not yet been launched, once implemented, it will bring significant relief to the working class.

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EPFO 3.0: Withdrawal of PF funds online

With the launch of EPFO ​​3.0, employees will no longer face any difficulties withdrawing their Provident Fund (PF). Employees can now withdraw their PF funds from the comfort of their homes by applying online without any paperwork. This new process will be very simple and fast. All you need to do is follow a few simple steps, which will be explained in this article.

When can you withdraw your PF funds?

According to the new EPFO ​​rules, employees can now withdraw their PF funds twice a year as per their needs. Whether it’s for a medical emergency, wedding expenses, children’s education, or building a house, PF funds can be withdrawn. This new system will provide relief to employees from many financial problems.

Online PF Withdrawal Process

Log in to the EPFO ​​Portal

First, you need to visit the EPFO ​​member portal and log in with your UAN (Universal Account Number) and password. Next, go to the ‘Online Services’ option and select the ‘Claim (Form-31, 19, 10C, 10D)’ option. Then, verify your bank account number and click ‘Proceed For Online Claim’. After this process, your PF amount will be transferred to your bank account.

Select PF Advance (Form 31) and provide the reason

Now, under ‘I Want To Apply For,’ select ‘PF Advance (Form 31)’ and specify the reason for withdrawing funds, such as medical emergency, marriage, house construction, or children’s education. Next, enter the required amount.

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Upload the required documents and verify with an OTP

Next, upload a scanned copy of your bank account’s checkbook or passbook. After filling in all the information, click ‘Get Aadhaar OTP.’ An OTP will be sent to your Aadhaar-linked mobile number, which you must enter and submit.

The money will be credited to your bank account within 3-7 days.

Once your application is submitted correctly, it will be verified by the EPFO. If everything is found to be correct, the money will usually be transferred to your bank account within 3 to 7 working days.

ATM Withdrawals

Once the PF funds are deposited into your bank account, you can easily withdraw them using your bank’s ATM card. Currently, this feature isn’t available through the EPFO, but it will be implemented soon.