The Employees Provident Fund Organization (EPFO) provides the EPFO member to take advance from the Passenger withdrawal and Provident Fund in select positions. Today we will tell you about some situations by our article in which only a certain part of the PF amount can be withdrawn. EPFO members can withdraw PF amount for buying or constructing houses, loan payment, not getting salary for 2 months, daughter/son/brother/own marriage, member’s disease etc.
Let us know that how much amount can be withdrawn in any situation, today we will also give you information about this. In the event of taking advance, the EPFO member has been fixed at some criteria. You can apply online for ‘PF withdrawl Form’ by visiting EPFO Member Portal for advanced or Parshal withdrawal.
Submit this online pf withdrawl application
EPFO started online facility to make the process of withdrawing the PF amount easier and saving time. Before applying on the EPFO portal, it is important for you to know whether your UAN (Universal Account Number) is activated or your number should be turned on to activate the universal account number. Your account should be linked with Aadhaar, PAN card and back details and IFSC code.
Also read: PF balance and passbook how to check online
Online method of removing PF
1) First go to the EPFO portal.
2) After this, log in to the account by entering UAN (Universal Account Number), Password and Capcha Code.
3) After this, click on the KYC option in the manage tab and check whether Aadhaar, PAN card and back details are correct and verified.
4) After verifying KYC details, go to online service and select the Clame option.
5) Member details, KYC details and service details will appear on the claim screen. After this, to submit the claim form, click on ‘Proceed for Online Claim’.
6) In the claim form, you will see full EPF stale, EPF Part withdrawal (Lone/Advance) or pension withdrawal options in the claim form. Due to service criteria, you may not be eligible to remove PF or remove pension, in such a situation you will not see this option.
Advance can be taken in a position to buy or build a house
The EPFO allows its members to extract a maximum of 24 months basic veg and DA to buy land. The maximum 36 -month basic wedge for home/flat/construction can be extracted by Employees and Employer Share or Home/Construction Whatever is low. Employees who have been EPFO members for 5 years can apply for advance. PF money can be withdrawn only once during the entire period of job. The employee will not require any other document other than the release for advance.
Also read: This is the way to connect Aadhaar number with PF account
For loan payment
In the EPFO Special case, the member allows the maximum 36 -month basic wedge and D or employees to withdraw the total outstanding dues and interest of the employer share or loan. Employees who have been EPFO members for 10 years can apply for advance. The employee will require a certificate from the agency for the Parshal withdrawal, which gives details of the outstanding amount and interest.
Advance will also be available in special case
The company can also apply for the closure of the company or to get out of the job or in the event of not getting salary (apart from strikes) for 2 months. In such a situation, the interest received on the employee share and the amount can be withdrawn. The employee will need a certificate issued by the employer to take advance. A member can withdraw a maximum of 50 percent amount with interest.
For treatment in illness
The employee can complete his basic and DA amount of six months. The employee can withdraw money for his own or a member’s illness in the family. This purpose does not require any membership period.
For marriage
The EPFO member can withdraw 50 percent (Employee share) PF amount with interest for the marriage of himself/daughter/son/sister etc. Note, the employee who has been an EPFO member for 7 years can apply for the PF amount.
For higher education
A 50 percent (Employee share) can be withdrawn with interest for higher education of son or daughter (for post gastric). The employee who has been an EPFO member for 7 years can apply for the PF amount. Certificate related to the course and institute will have to provide details of estimated expenditure.
One year before retirement
After the age of 54, EPFO member can withdraw 90 % of the amount from PF as a Parshal withdrawal a year before retirement.
