PF Money- Big relief for PF account holders. If you want to withdraw money from your Provident Fund (PF) account, now you will not need any paperwork. The government has made this process very easy. The Ministry of Labor and Employment has informed the Parliament that if your PF account is linked to Aadhaar, PAN number and bank details are also updated correctly. If all the information matches the EPFO records, then the money will be transferred to your account in a few clicks.
Actually, EPFO introduced Composite Claim Form in the year 2017. Through this, you can withdraw advance money from PF for many important works like marriage, medical emergency, children’s education, house purchase. You can withdraw this money without any medical certificate or other document. Meaning now you do not need to do any paperwork.
EPFO has also said that keeping safety in mind, Aadhaar OTP and face verification have now been made mandatory. So that there is no scope for any kind of fraud. Today, more than 90% of PF claims are being made online and many of these are settled through auto-settlement within just 3 days.
Easy process to withdraw PF
- Visit the EPFO website or UMANG app.
- Login with your UAN and password.
- Check that Aadhaar, PAN and bank details are updated and verified.
- Go to Online Service tab and click on Claim (Form-31, 19, 10C).
- Select the reason for withdrawal like marriage, illness, buying a house etc. and fill in the required details.
- Then submit the form with OTP or face verification.
If everything is correct, then the money can be transferred to your bank account in just 3 days without giving any extra documents. So, check and update your EPFO account details now, so that you can get the money immediately without any hassle at the time of need.