The central government has allowed people to withdraw 100% of the eligible amount from their EPFO accounts. Union Minister Mansukh Mandaviya said this decision was made at the 238th meeting of the EPFO Central Board of Trustees on Monday.

It is important to know that 100% does not mean the full account balance. You must keep 25% of your EPF balance in the account. After keeping this 25% minimum, you can withdraw the remaining 75% (eligible amount). Earlier, EPFO withdrawals had 13 different rules, which made the process long and difficult. Now, the rules are simplified into three main categories.

Types of Withdrawal

  • Essential Needs: For marriage, education, medical expenses, etc.
  • Housing Needs: For buying or building a house, or repaying a home loan.
  • Special Circumstances: You can withdraw money without giving any reason.

How to Withdraw Money from Your PF Account

  1. Go to EPFO website or Unified Member Portal.
  2. Login with your UAN (Universal Account Number), password, and captcha.
  3. Go to the ‘Online Services’ tab and click on ‘Claim (Form-31, 19, 10C)’.
  4. Check your bank details (it must be the same account linked to EPFO).
  5. Click ‘Proceed for Online Claim’.
  6. Select ‘PF Advance (Form-31)’ from the dropdown and enter the reason and amount for withdrawal.
  7. Submit the application. If your Aadhaar, bank, and PAN details are correct, the money is usually transferred to your bank account within a few days.

No Need to Show Documents

The government has said that earlier, EPFO members had to verify the reasons for withdrawal, which sometimes caused claims to be rejected. Now, verification is not needed for some categories, such as:

  • Natural disasters
  • Closure of workplace
  • Continued unemployment
  • Epidemic or pandemic situations

This makes withdrawing money from PF easier and faster.