PF is deducted every month from the salary based applicant. Which is deposited in the Employees Provident Fund Organization. Although this money can be withdrawn only after retirement, but if you need money for buying a house, daughter’s marriage or due to health problem, then you can withdraw money from your PF account. Many people do not know how to withdraw PF, so we are telling you about it in easy steps.
Let us tell you that when partial PF withdrawal is to be made from EPFO, the employees have to fill Form No. 31. Along with this, the employee has to fulfill some important conditions. This is being explained below.
Necessary condition for withdrawing PF
- To withdraw PF from EPFO, your UAN number must be active. Along with this, the mobile number you have linked should also be active. Only after this you can withdraw PF from EPFO.
- To withdraw PF, your Aadhar card must be seeded in the database of EPFO account, because when you submit Form 31 for PF, UIDAI sends OTP for eKYC. When you complete e-KYC, only then your PF is processed further.
- Member’s bank account with IFSC code should be seeded in EPFO database
- If a member’s service period is less than 5 years, he should enter the PAN number in the EPFO database in PF final settlement claims
- Additionally, the joining date of the member should be available in the EPFO database
When can you withdraw PF
- When customer has a housing loan / purchase of site / house / flat or construction / addition
- Factory lockout or closure
- When a member or family member is sick
- Marriage of self/son/daughter/brother/sister
- Post-matric education of children
- When there is a natural disaster
- Power outage at the establishment
- Purchase of equipment by the physically challenged
Additionally, one can also choose to invest in Partial Debt (when age is above 54 years) and Senior Pension Insurance Scheme (when age is above 55 years) one year before retirement.
How to apply for PF
1. You can login to the member interface using UAN credentials. 2. You should check that the KYC and service eligibility conditions against UAN are correct. 3. Now you can choose the option of the respective claim, i.e. partial (Form 31) or full (Form 19). 4. Finally, you have to authenticate using the OTP received on the mobile registered with UIDAI to submit the claim online.
