PF Withdrawal Rules– There will be a requirement to maintain a minimum balance of 25%, meaning you will now be able to easily withdraw 75% of your PF account. Another significant relief is that you will no longer need to provide a reason for withdrawing 75% of your funds. You will now be able to withdraw funds without explanation in cases of natural disasters, pandemics, job loss, or unemployment, and other such special circumstances.
The EPFO has eliminated 13 of its old, onerous rules and has created partial withdrawal rules in three categories: essential needs (illness, education, marriage), housing expenses, and special circumstances. Members will now be able to withdraw the entire balance in their PF account (including both employee and employer portions). Previously, only three withdrawals were allowed for education and marriage; now, withdrawals can be made 10 times for education and five times for marriage.
How to withdraw money from EPF online ?
Please note that there are certain requirements for online EPF withdrawal, such as an active UAN and a working registered mobile number, and a KYC link (Aadhaar, PAN, bank details, and IFSC) to the UAN. If these requirements are met, employer verification is not required. After this, proceed with the EPF withdrawal steps on the UAN portal.
To do this, go to the UAN portal and log in with your UAN and password, then enter the captcha and click “Sign In.” Then, go to Manage > KYC and verify your Aadhaar, PAN, and bank details. Select Online Services > Claim (Form-31, 19, 10C, and 10D), enter your bank account number, and click “Verify.” Then, click “Yes,” sign your certificate of undertaking, and click “Proceed for Online Claim.”
Under “I Want To Apply For,” select the withdrawal type, which will display options like Full EPF settlement, Partial PF withdrawal, or Pension withdrawal. Then, fill out the form and click “Submit” to submit the certificate. Also, upload scanned documents if required. After verification, the funds will be credited to your account.