PF Withdraw Rules: Under the new guidelines from the Employees’ Provident Fund Organization (EPFO), account holders are now allowed to withdraw up to 100% of their PF account balance for personal occasions such as weddings. This fund can be utilized for their own marriage, their children’s weddings, or even for their siblings’ weddings.
This move by the EPFO is set to ease the financial burden on the public, as weddings in India can be quite costly. The typical Indian wedding ranges from ₹5 lakh to ₹20 lakh. In the past, account holders were limited to withdrawing funds for a wedding only three times, but this cap has now been raised to five. It’s important to remember that at least 25% of the balance must stay in your account after withdrawals to keep it active and earning interest.
Withdrawal Terms and Eligibility documents
When applying to withdraw funds for a wedding, you usually need to provide the wedding invitation card as proof.
Minimum service period
The EPFO has reduced the minimum service period for all types of partial withdrawals (marriage, illness, education, housing, etc.) from five years to just 12 months. This means that even if you’ve only worked for a year, you can still access money from your PF account.
How many times can you withdraw money?
As per the EPFO, individuals can withdraw funds from their PF account up to five times during their employment for personal needs like marriage. Previously, the limit was just three times, which was not enough for urgent situations.
How to withdraw money?
Step 1: Visit the official website of EPFO ​​from laptop or mobile
https://unifiedportal-mem.epfindia.gov.in/memberinterface/
Step 2: ‘Sign In’ by entering your UAN, password and captcha
Step 3: After logging in, click on the ‘Online Services’ tab in the top menu
Step 4: Select Claim Form-31, 19, 10C & 10D option
Step 5: Enter your bank account which is linked to the PF account
Step 6: Here select Form 31 option for partial withdrawal
Step 7: Select ‘Marriage’ in the ‘Purpose for which advance is required’ drop-down
Step 8: Scan and upload the wedding invitation card
Step 9: Accept the terms and conditions and submit the application
