pf withdrawal - Rightsofemployees.com https://www.rightsofemployees.com Know Your Rights Fri, 29 Aug 2025 08:03:14 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.4 https://www.rightsofemployees.com/wp-content/uploads/2018/01/cropped-emp1-32x32.png pf withdrawal - Rightsofemployees.com https://www.rightsofemployees.com 32 32 EPFO 3.0 platform is going to be launched, now you can withdraw PF money from ATM and UPI too https://www.rightsofemployees.com/epfo-3-0-platform-is-going-to-be-launched-now-you-can-withdraw-pf-money-from-atm-and-upi-too/ Fri, 29 Aug 2025 08:03:14 +0000 https://www.rightsofemployees.com/?p=48173 EPFO 3.0 Platform: There is big news for PF account holders. Employees Provident Fund Organization i.e. EPFO ​​is going to launch its new digital platform EPFO ​​3.0. After the arrival of this new digital platform, services related to EPFO ​​will become easy, transparent and fast for employees. The government has shortlisted companies like Infosys, Wipro […]

The post EPFO 3.0 platform is going to be launched, now you can withdraw PF money from ATM and UPI too first appeared on Rightsofemployees.com.

]]> EPFO 3.0 Platform: There is big news for PF account holders. Employees Provident Fund Organization i.e. EPFO ​​is going to launch its new digital platform EPFO ​​3.0. After the arrival of this new digital platform, services related to EPFO ​​will become easy, transparent and fast for employees.

The government has shortlisted companies like Infosys, Wipro and TCS to build and maintain this platform. After the arrival of EPFO ​​3.0 platform, facilities like automated PF withdrawal and integrated ATM will also be made available on it.

It is worth noting that the month of June was fixed for the launch of EPFO ​​3.0 platform. However, due to some testing and other reasons, it got delayed. Along with this, now this platform can be launched soon.

Online claim and correction facility will be available

– After the launch of this platform, employees will not have to visit the office repeatedly to make small corrections or settle claims.

– Employees will be able to do such work with the help of OTP.

– In addition, they will also be able to track the status of their claims on this platform.

User Friendly Experience

– EPFO ​​members will get a better user friendly experience on this platform.
– On the EPFO ​​3.0 platform, you will be able to track important details related to your PF balance, status and contribution in real time.
– This will make EPFO ​​services more convenient and accessible.

PF Withdrawal from ATM

– After the launch of EPFO ​​3.0 platform, PF account holders will now get the facility to withdraw their PF funds from ATM.
– However, to avail this facility, you need to activate your UAN number.
– Apart from this, your bank account will have to be linked with Aadhaar card.

Instant withdrawal facility will also be available through UPI

– After the launch of this platform, you will be able to withdraw your PF through UPI as well.

– After availing this facility, PF can be withdrawn immediately through UPI in case of emergency.

– EPFO ​​3.0 platform will prove to be very beneficial for employees.

 

The post EPFO 3.0 platform is going to be launched, now you can withdraw PF money from ATM and UPI too first appeared on Rightsofemployees.com.

]]> EPFO Update: Aadhaar-Mobile Link Mandatory for PF Withdrawal – Know the Steps https://www.rightsofemployees.com/epfo-update-aadhaar-mobile-link-mandatory-for-pf-withdrawal-know-the-steps/ Thu, 07 Aug 2025 11:02:51 +0000 https://www.rightsofemployees.com/?p=47301 How To Link Your Mobile Number With Aadhaar Card: If you are also a PF account holder and your mobile number is not linked to your Aadhaar card, then you will not be able to withdraw PF money. A large section of the population depends on jobs to earn their livelihood. People study, do courses […]

The post EPFO Update: Aadhaar-Mobile Link Mandatory for PF Withdrawal – Know the Steps first appeared on Rightsofemployees.com.

]]> How To Link Your Mobile Number With Aadhaar Card: If you are also a PF account holder and your mobile number is not linked to your Aadhaar card, then you will not be able to withdraw PF money.

A large section of the population depends on jobs to earn their livelihood. People study, do courses and look for a good job. From where they can get a good salary so that they can save for their future apart from their current needs. During the job, the company provides many facilities, but one facility is also provided by the government and that is the PF account. PF accounts are opened under the rules of working people in which a fixed amount is deducted from the employee’s salary every month and deposited.

Then the company also deposits the same amount in the employee’s salary every month. After this, the government also pays annual interest on the total amount deposited annually. At the same time, you can withdraw money from your PF account even after leaving the job or in between jobs, but do you know that if your mobile number is not linked to your Aadhar card, then you cannot withdraw money from your PF account.

Why can’t I withdraw the money?

Actually, at present, if you want to withdraw PF money from your PF account, then you have to apply online through the PF portal. In such a situation, OTP is sent to the mobile number linked to your Aadhaar and that OTP has to be entered here, but if no mobile number is linked to your Aadhaar or the linked number has been closed etc. In such a situation, you will not be able to withdraw PF.

What should be done then?

step 1

  • If no mobile number is linked to your Aadhaar card or it is closed, then you can link another number to Aadhaar, so that you do not face any problem in withdrawing PF
  • For this, first of all take an appointment at your nearest Aadhaar service center and go to the center on the day you are called
  • By going here, you have to first fill the correction form

Step 2

  • In this form, you have to fill in the required information like your name, Aadhaar card etc.
  • Keep in mind that in the form, you also have to fill your mobile number which you want to link with the Aadhaar card.
  • After this, wait for your turn and when your number comes, go to the concerned officer

Step 3

  • The officer takes your biometrics and verifies you by clicking a photo
  • After the investigation is found to be correct, your mobile number is verified and then it is updated
  • After this, a fee of Rs 50 is charged from you and then within a few days the mobile number is linked to your Aadhaar after which you can withdraw PF

The post EPFO Update: Aadhaar-Mobile Link Mandatory for PF Withdrawal – Know the Steps first appeared on Rightsofemployees.com.

]]> PF Withdrawal for Home Purchase Simplified: Check What’s Changed https://www.rightsofemployees.com/pf-withdrawal-for-home-purchase-simplified-check-whats-changed/ Wed, 30 Jul 2025 07:25:17 +0000 https://www.rightsofemployees.com/?p=46733 If you are a salaried class person, have been working for many years and are planning to buy a house, then some recently changed rules may benefit you. Actually, the Employees Provident Fund Organisation i.e. EPFO has made some changes in the rules which can make the problem of those buying their first home a […]

The post PF Withdrawal for Home Purchase Simplified: Check What’s Changed first appeared on Rightsofemployees.com.

]]> If you are a salaried class person, have been working for many years and are planning to buy a house, then some recently changed rules may benefit you.

Actually, the Employees Provident Fund Organisation i.e. EPFO has made some changes in the rules which can make the problem of those buying their first home a little easier. 12 percent of the employee’s basic salary is deposited in the Provident Fund. The employer, i.e. the company in which the employee works, also deposits the same amount in this account.

Under the new rules of EPFO, EPF members who intend to buy their first home will be able to withdraw more money from their PF account than before. This amount can be up to 90 percent of the total amount deposited in the employee’s PF account.

Earlier this amount was equal to the amount deposited in the employee’s PF account in 36 months. These changes have been made under Para 68-BD of EPF Scheme 1952. As per the new rules, EPFO members can withdraw up to 90% of their PF for home-related needs such as construction, downpayment for buying a house or paying home loan EMI.

Earlier, to withdraw money in this manner, the members were required to have worked continuously for five years, but according to the new rule, the members can withdraw the money only after three years of opening their EPF account. Yes, but there is a condition. Members can use this PF advance withdrawal option only once in their lifetime.

EPFO has also amended two more rules for withdrawing money from PF account. Now members can withdraw up to Rs 1 lakh immediately in case of emergency needs. EPFO claims that very soon members will be able to withdraw emergency funds from their PF accounts through UPI and ATM.

But this facility will be available only to those whose UAN i.e. Universal Account Number is active and fully verified by KYC. Also, the bank account of the EPFO member should be linked to EPFO and linked to Aadhaar.

Auto settlement limit also increased

Actually, during the time of Covid 19, the government had started the facility of auto settlement under PF, but now it is being made a permanent feature. Auto settlement means there is no need for manual verification for this claim. That is, if you want to withdraw an amount of up to Rs 5 lakh from EPFO, it will be automatically approved and the amount will be transferred to the member’s account within 72 hours.

EPFO has also claimed to simplify the claim process. It has been said that the verification parameters have been reduced from 27 to 18. It is claimed that 95 percent of the claims are settled within three to four days.

Apart from this, the requirement of uploading verified photo copy of cheque book or bank passbook for online claim has been abolished. Since the name of the bank account holder is already verified while linking the EPF account with Universal Account Number (UAN), now there is no need for a verified copy of cheque or passbook.

Also, the bank account seeding process now eliminates the role of the employer in bank account verification. This simplified process will also benefit members who wish to update their existing bank account details. They can now do so by entering their new bank account number and IFSC code, which will be confirmed through Aadhaar OTP.

Do you have PF?

Any employee, whether working in government or private sector, has a PF account. 12 percent of his basic salary is deposited in this account and his company also contributes the same amount i.e. 12 percent. But of this 12% amount deposited in the company or employer’s account, 8.33% is deposited in the pension fund and the remaining 3.67% is deposited in PF.

The government has fixed the maximum limit of pensionable salary at fifteen thousand rupees. That is, if your basic salary is 15 thousand rupees or less, then only you will be entitled to the Employees’ Pension Scheme i.e. EPS.

When can money be withdrawn from PF?

You can withdraw money from EPF under certain circumstances. Such as your own or someone in the family’s illness, marriage, education, buying or constructing a house, repaying home loan or in case of unemployment and before retirement. If you have worked for less than five years and withdrawn PF, tax may be levied. There is no tax on service for more than five years.

 

The post PF Withdrawal for Home Purchase Simplified: Check What’s Changed first appeared on Rightsofemployees.com.

]]> PF Withdrawal: EPFO claims that small claims up to Rs 1 lakh are now being settled within 72 hours https://www.rightsofemployees.com/pf-withdrawal-epfo-claims-that-small-claims-up-to-rs-1-lakh-are-now-being-settled-within-72-hours/ Tue, 17 Jun 2025 05:28:18 +0000 https://www.rightsofemployees.com/?p=45081 New Delhi. Withdrawal of up to Rs 1 lakh from Provident Fund (PF) account for expenses like education, illness, house building or marriage has become even easier. The government claims that such small claims will be transferred directly to the bank account within 72 hours (three days). According to EPFO, 99% of the applications for […]

The post PF Withdrawal: EPFO claims that small claims up to Rs 1 lakh are now being settled within 72 hours first appeared on Rightsofemployees.com.

]]> New Delhi. Withdrawal of up to Rs 1 lakh from Provident Fund (PF) account for expenses like education, illness, house building or marriage has become even easier. The government claims that such small claims will be transferred directly to the bank account within 72 hours (three days).

According to EPFO, 99% of the applications for PF withdrawal are coming through online mode, making the process faster and transparent. Out of 68.96 lakh claims made in the financial year 2024-25, 50% of the claims were settled within 72 hours. The next target of the government is to settle all claims up to Rs 1 lakh in 72 hours in the financial year 2025-26. 90% of the claims for an amount of more than Rs 1 lakh are also being settled within 20 days.

At present, EPFO ​​has 7.37 crore active members. The data in the accounts opened after 2012 is completely digital, so the claims related to these accounts are being settled quickly. At the same time, there is some delay in the accounts opened before 2012 due to the long process of data verification. The Employees Provident Fund Organization has appealed to the people not to take the help of any agent or middleman for PF related work, but to directly contact the EPFO ​​office or the concerned officer.\

When can the money be withdrawn

According to EPFO ​​rules, money can be withdrawn from PF account even before retirement under certain circumstances. You can withdraw money from PF for marriage. For this, you need to be a member of EPF for at least 7 years. You can also withdraw money from PF for children’s education. For this also, 7 years of membership is necessary. If you want to buy, build or repair a house, then money can be withdrawn from PF account. For this, at least 5 years of EPF membership is necessary. Money can be withdrawn at any time for treatment.

Tax rules on PF withdrawal

If an employee completes 5 years of service in a company and withdraws PF, then he does not have any income tax liability. The period of 5 years can also be combined with one or more companies. It is not necessary to complete 5 years in a single company. If an employee withdraws more than Rs 50,000 from his PF account before completing 5 years in the job, then he will have to pay 10% TDS. On the other hand, if you do not have a PAN card, then you will have to pay 30% TDS. However, if the employee submits Form 15G/15H, then no TDS is deducted.

The post PF Withdrawal: EPFO claims that small claims up to Rs 1 lakh are now being settled within 72 hours first appeared on Rightsofemployees.com.

]]> PF withdrawal: Now PF money will be withdrawn in minutes, the government will make this big change this month https://www.rightsofemployees.com/pf-withdrawal-now-pf-money-will-be-withdrawn-in-minutes-the-government-will-make-this-big-change-this-month/ Mon, 02 Jun 2025 09:35:41 +0000 https://www.rightsofemployees.com/?p=44625 Provident Fund: Provident Fund money will be in your hands in just a few minutes. Now you will not have to fill any form to withdraw PF advance money. There will be no long wait of 5 to 15 days. PF money can be withdrawn through ATM or UPI. In times of emergency, your money […]

The post PF withdrawal: Now PF money will be withdrawn in minutes, the government will make this big change this month first appeared on Rightsofemployees.com.

]]> Provident Fund: Provident Fund money will be in your hands in just a few minutes. Now you will not have to fill any form to withdraw PF advance money. There will be no long wait of 5 to 15 days. PF money can be withdrawn through ATM or UPI. In times of emergency, your money will be with you in just a few minutes

Provident Fund: Provident Fund money will be in your hands in just a few minutes. Now no form will have to be filled to withdraw PF advance money. There will be no long wait of 5 to 15 days. PF money can be withdrawn through ATM or UPI. In times of emergency, your money will be with you in a few minutes. The government can do the process of withdrawing PF advance so easily this month i.e. in June. The biggest advantage of the new system will be that the long process of filling the form and getting approval to withdraw PF money will end. It will be easy to withdraw PF money at any time and from anywhere.

EPFO will upgrade the system

There is good news for crores of salaried employees of the country. Employees Provident Fund Organization (EPFO) is preparing to upgrade its digital system to a new form. According to media reports, EPFO ​​3.0 can be launched from June 2025. The most special thing about this new facility is that PF account holders will also be able to withdraw their funds through UPI and ATM.

What is EPFO ​​3.0?

EPFO 3.0 is a digital version of the existing PF system which is faster, easier and safer than the old system. Till now, to withdraw PF, one has to login to the EPFO ​​​​website, fill the form and then wait for several days. But with the arrival of EPFO ​​​​3.0, there may be a facility to withdraw money in real time.

How will you be able to withdraw money from ATM and UPI?

Although complete information about this has not been revealed at the moment, it is believed that under EPFO ​​​​3.0, PF accounts will be linked to UPI and ATM networks. With this, customers will be able to withdraw money directly from their account with the help of UPI apps like PhonePe, Google Pay, Paytm etc. or ATM machine. For this, there may be safety features like OTP, PIN or Aadhaar based verification. Also, some terms and limits will also be fixed so that the funds are not misused. Money can also be saved for employees for retirement.

What will be the benefits of digital withdrawal?

The biggest advantage of the new system will be that the long process of filling the form and getting approval to withdraw PF money will end. It will be easy to withdraw PF money anytime and from anywhere. This will be useful for employees in times of emergency.

Will EPFO ​​3.0 be launched in June?

EPFO 3.0 can be launched in June 2025. However, the official date has not been decided yet. It is expected that it will be started as a pilot project in some cities or states first and then gradually implemented across the country. If this happens, then more than 6 crore PF account holders of the country will get direct benefit from it.

The post PF withdrawal: Now PF money will be withdrawn in minutes, the government will make this big change this month first appeared on Rightsofemployees.com.

]]> New Rules 1 June 2025: These 10 Major rules will change in the month of June, how much will it affect your pocket? https://www.rightsofemployees.com/new-rules-1-june-2025-these-10-major-rules-will-change-in-the-month-of-june-how-much-will-it-affect-your-pocket/ Sat, 31 May 2025 12:31:47 +0000 https://www.rightsofemployees.com/?p=44598 New Rules From June 1: The month of June can be important for your budget in many ways. Many financial and user-service related rules are going to change from June 1, 2025. These include changes from bank FD, credit card, LPG gas, PF withdrawal, Aadhaar update to ATM and mutual funds. Let us know those […]

The post New Rules 1 June 2025: These 10 Major rules will change in the month of June, how much will it affect your pocket? first appeared on Rightsofemployees.com.

]]> New Rules From June 1: The month of June can be important for your budget in many ways. Many financial and user-service related rules are going to change from June 1, 2025. These include changes from bank FD, credit card, LPG gas, PF withdrawal, Aadhaar update to ATM and mutual funds. Let us know those 10 big changes that can affect your pocket and planning.

1. EPFO ​​3.0 will be launched – PF withdrawal will be easier

EPFO is launching a new version EPFO ​​3.0 from June 1. With this, PF withdrawal, KYC update and claim process will be faster and easier than before. The special thing is that EPF related cards can also be used like ATM cards.

2. Change in FD interest rates is possible

Banks may change the interest rates of fixed deposits and loans in June. The Reserve Bank’s possible repo rate cut may reduce FD rates. For example, Suryoday Small Finance Bank has reduced the interest on 5-year FD from 8.6% to 8%.

3. Changes in credit card rewards and charges

There will be changes in the credit card rules of Kotak Mahindra Bank and other banks from June 1. Reward point limits can be fixed, penalty for auto-debit failure can be reduced and extra charges can be levied on fuel/utility payments.

4. LPG cylinder prices will change

The prices of LPG cylinders are reviewed on the first of every month. On June 1, the prices of domestic and commercial gas may increase or decrease, which will directly affect your kitchen budget.

5.ATM transaction charges may increase

From June, the charges levied after the limit of free transactions from ATMs may increase. People who withdraw cash frequently will feel the impact of this change on their pockets.

6. New cut-off time in mutual funds

SEBI has implemented a new cut-off time for overnight mutual fund schemes. From June 1, the time will be 3 PM for offline transactions and 7 PM for online. Orders placed after this will be considered on the next working day.

7. Deadline for getting Aadhaar updated for free

The free update facility of Aadhaar card is available only till 14 June 2025. After this, a fee of ₹25 will be charged for online update and ₹50 at the center. Therefore, get your identity and address proof updated immediately.

8. Now the name of the real receiver will be visible in UPI transactions

NPCI has implemented a new rule under which while making UPI payment, the user will only see the banking name of the ‘Ultimate Beneficiary’ i.e. the real receiver. QR code or edited names will no longer be visible. All UPI apps will have to implement these rules by June 30.

Banks will remain closed for 12 days in June

According to RBI, there will be a total of 12 bank holidays in June 2025, which includes Sunday, second and fourth Saturday. Apart from this, banks will also remain closed on festivals like Bakrid. Do cash or banking planning in advance.

10. Paying utility bills through credit card can be expensive

Some banks have indicated that from June, extra charges may be levied on paying utility bills like electricity, water etc. using credit cards or the cashback terms may be changed.

The post New Rules 1 June 2025: These 10 Major rules will change in the month of June, how much will it affect your pocket? first appeared on Rightsofemployees.com.

]]> EPFO set to integrate UPI payments for quick settlement of claims up to Rs 1 lakh https://www.rightsofemployees.com/epfo-set-to-integrate-upi-payments-for-quick-settlement-of-claims-up-to-rs-1-lakh/ Thu, 27 Mar 2025 07:08:23 +0000 https://www.rightsofemployees.com/?p=41661 PF Withdrawal: There is great news for employed people. Employees’ Provident Fund Organization (EPFO) subscribers will soon be able to withdraw their PF money easily through UPI and ATM. Its limit will be up to one lakh rupees. Secretary of the Ministry of Labor and Employment Sumita Dawra gave this information on Wednesday. What is […]

The post EPFO set to integrate UPI payments for quick settlement of claims up to Rs 1 lakh first appeared on Rightsofemployees.com.

]]> PF Withdrawal: There is great news for employed people. Employees’ Provident Fund Organization (EPFO) subscribers will soon be able to withdraw their PF money easily through UPI and ATM.

Its limit will be up to one lakh rupees. Secretary of the Ministry of Labor and Employment Sumita Dawra gave this information on Wednesday.

What is the detail

Labour and Employment Ministry Secretary Sumita Dawra said that employees will get immediate access to their PF funds, with withdrawal limits up to Rs 1 lakh. She told news agency ANI that by the end of May or June, EPFO ​​members will be able to check their PF balance directly on UPI. Also, they will be able to withdraw funds immediately through an automated system.

How to withdraw money from ATM and UPI?

Let us tell you that in this new process, EPFO ​​will issue a special ATM card to its members, which will be linked to their PF account. Using this card, members will be able to withdraw money directly from their PF account from any ATM across the country. The withdrawal limit can be up to 50% of the total PF balance, ensuring that sufficient funds can be saved for retirement. Apart from this, to withdraw money from UPI, you have to link your PF account to UPI. After this, subscribers will be able to transfer PF money to their bank account. This facility will prove to be a boon for those who suddenly need money.

What is the current process, it is long

Let us tell you that currently it takes up to 2 weeks for EPFO ​​members to process online claims. EPFO ​​members have to submit claims online and wait for approval. This takes up to 2 weeks. However, now with UPI integrated, employees will be able to check their balance and also withdraw money instantly.

Related Articles:-

8th Pay Commission May Increase Govt Employee Salary, Check When Salary Hike Implement

Donald Trump announced 25% auto tariff, the shares of these companies got affected

Transport Department Mandates Mobile Number Update for Vehicle Registration and Driving License by March 31

The post EPFO set to integrate UPI payments for quick settlement of claims up to Rs 1 lakh first appeared on Rightsofemployees.com.

]]> PF Withdrawal Limit: How much money PF account holders can withdraw in case of emergency, know the limit here https://www.rightsofemployees.com/pf-withdrawal-limit-how-much-money-pf-account-holders-can-withdraw-in-case-of-emergency-know-the-limit-here/ Tue, 19 Mar 2024 10:41:51 +0000 https://www.rightsofemployees.com/?p=28079 If you are planning to withdraw money from PF, then it is important to know the rules related to it. So that you do not face much trouble in withdrawing money from PF. Employees can withdraw the amount deposited in PF for emergency needs. There is a limit for withdrawing money from PF for different […]

The post PF Withdrawal Limit: How much money PF account holders can withdraw in case of emergency, know the limit here first appeared on Rightsofemployees.com.

]]> If you are planning to withdraw money from PF, then it is important to know the rules related to it. So that you do not face much trouble in withdrawing money from PF. Employees can withdraw the amount deposited in PF for emergency needs. There is a limit for withdrawing money from PF for different needs. In this article we are giving you detailed information about them.

New Delhi. Employees’ Provident Fund Organization (EPFO) was established to improve the retirement of private sector employees. To raise retirement fund for employees, every month the company and the employee deposit equal amount in PF (Provident Fund). The government also pays annual interest on this. At present the interest rate in PF is 8.15 percent.

As we told, this amount deposited in EPF is a retirement fund but it can be withdrawn if needed. The government has made some rules to withdraw funds for every need. If you are also planning to withdraw from PF, then today we will tell you how much money can be withdrawn from which item.

When and how much money can be withdrawn from PF?

  • Employees can withdraw full or partial withdrawal of funds from PF fund simultaneously. Some rules have been made for this.
  • Rules for withdrawing full money from PF
  • When the employee retires, the entire amount can be withdrawn at once.
  • If the employee is unemployed for a month or more, he can withdraw 75 percent of the PF amount. He can withdraw the remaining 25 percent amount in the next two months in case of unemployment.

Rules for partial fund withdrawal

Employees can use partial funds to meet their emergency needs. The government has made some rules regarding how much amount can be withdrawn for different needs.

For treatment: If you want to withdraw PF funds for medical emergency, then you can withdraw six times the basic salary or the total amount deposited and interest amount in the employee’s share in PF, whichever is less. Are. From this item, the employee can withdraw the amount for the treatment of himself, children, spouse and parents.

For marriage: If you are withdrawing money from PF for marriage, then it is necessary to have 7 years of service for this. The employee can withdraw money for the marriage of himself, his son or daughter, brother or sister. Talking about the amount, the employee can withdraw only 50 percent of his share of the total deposit.

For education: The account holder can withdraw only 50 percent of the employee’s share in PF for his or her children’s education. Along with this, it is mandatory for him to have 7 years of service.

For buying land and buying or building a house: If you are withdrawing PF money for building a house, then it is necessary to have five years of service for this. To buy land, an employee can withdraw up to 24 times his basic and dearness allowance from PF. At the same time, to buy a house, employees can withdraw 36 times the amount of basic and dearness allowance.

Along with this, there are some other conditions, in which the house or land should be in the name of the employee or in the joint name of the husband and wife. Money can be withdrawn only once during the entire service to purchase land or house. After the money is withdrawn, the construction of the house should start within 6 months and the construction should be completed within 12 months.

For home loan repayment: Money can also be withdrawn from PF fund to repay home loan. For this it is necessary to have ten years of service. For this, employees can withdraw 36 times their basic and dearness allowance. Along with this, the total amount deposited in PF can also be withdrawn. Or the employee can withdraw an amount equal to the total outstanding principal and interest of the home loan.

If you are withdrawing money for home loan repayment, then this home loan should be in the name of the employee or both the husband and wife. The total amount in the employee’s account should be more than Rs 20 thousand. Along with this, the employee will have to submit home loan related documents to EPFO.

Home Renovation: Employees can also withdraw PF money for house renovation. For this, he can withdraw 12 times his basic and dearness allowance. Along with this, you can withdraw the total cost or the employee’s share and interest deposited in PF. This property should be in the name of the employee or in the name of both husband and wife. To get the money for this item, it is necessary that the house has been built for five years.

Partial withdrawal before retirement: If the employee has completed 58 years of age, then he can withdraw 90 percent of the total amount deposited in PF one year before retirement.

DDA Housing Scheme: Opportunity to buy a house at 15 percent less than the market price, apply today

The post PF Withdrawal Limit: How much money PF account holders can withdraw in case of emergency, know the limit here first appeared on Rightsofemployees.com.

]]> PF Withdrawal Limit : When and how much money can be withdrawn from PF? Know complete details here https://www.rightsofemployees.com/pf-withdrawal-limit-when-and-how-much-money-can-be-withdrawn-from-pf-know-complete-details-here/ Fri, 15 Mar 2024 04:38:06 +0000 https://www.rightsofemployees.com/?p=27972 If you are planning to withdraw money from PF, then it is important to know the rules related to it. So that you do not face much trouble in withdrawing money from PF. Employees can withdraw the amount deposited in PF for emergency needs. There is a limit for withdrawing money from PF for different […]

The post PF Withdrawal Limit : When and how much money can be withdrawn from PF? Know complete details here first appeared on Rightsofemployees.com.

]]> If you are planning to withdraw money from PF, then it is important to know the rules related to it. So that you do not face much trouble in withdrawing money from PF. Employees can withdraw the amount deposited in PF for emergency needs. There is a limit for withdrawing money from PF for different needs. In this article we are giving you detailed information about them.

Employees’ Provident Fund Organization (EPFO) was established to improve the retirement of private sector employees. To raise retirement fund for employees, every month the company and the employee deposit equal amount in PF (Provident Fund). The government also pays annual interest on this. At present the interest rate in PF is 8.15 percent.

As we told, this amount deposited in EPF is a retirement fund but it can be withdrawn if needed. The government has made some rules to withdraw funds for every need. If you are also planning to withdraw from PF, then today we will tell you how much money can be withdrawn from which item.

When and how much money can be withdrawn from PF?
Employees can withdraw full or partial withdrawal of funds from PF fund simultaneously. Some rules have been made for this.

Rules for withdrawing full money from PF
When the employee retires, the entire amount can be withdrawn at once.
If the employee is unemployed for a month or more, he can withdraw 75 percent of the PF amount. He can withdraw the remaining 25 percent amount in the next two months in case of unemployment.

Rules for partial fund withdrawal
Employees can use partial funds to meet their emergency needs. The government has made some rules regarding how much amount can be withdrawn for different needs.

For treatment: If you want to withdraw PF funds for medical emergency, then you can withdraw six times the basic salary or the total amount deposited and interest amount in the employee’s share in PF, whichever is less. Are. From this item, the employee can withdraw the amount for the treatment of himself, children, spouse and parents.

For marriage: If you are withdrawing money from PF for marriage, then it is necessary to have 7 years of service for this. The employee can withdraw money for the marriage of himself, his son or daughter, brother or sister. Talking about the amount, the employee can withdraw only 50 percent of his share of the total deposit.

For education: The account holder can withdraw only 50 percent of the employee’s share in PF for his or her children’s education. Along with this, it is mandatory for him to have 7 years of service.

For buying land and buying or building a house: If you are withdrawing PF money for building a house, then it is necessary to have five years of service for this. To buy land, an employee can withdraw up to 24 times his basic and dearness allowance from PF. At the same time, to buy a house, employees can withdraw 36 times the amount of basic and dearness allowance.

Along with this, there are some other conditions, in which the house or land should be in the name of the employee or in the joint name of the husband and wife. Money can be withdrawn only once during the entire service to purchase land or house. After the money is withdrawn, the construction of the house should start within 6 months and the construction should be completed within 12 months.

The post PF Withdrawal Limit : When and how much money can be withdrawn from PF? Know complete details here first appeared on Rightsofemployees.com.

]]> PF withdrawal rule changed: Good News for PF account holders, facility to withdraw Rs 1 lakh will be available https://www.rightsofemployees.com/pf-withdrawal-rule-changed-good-news-for-pf-account-holders-facility-to-withdraw-rs-1-lakh-will-be-available-19-08-2022/ Thu, 18 Aug 2022 23:05:13 +0000 https://www.rightsofemployees.com/?p=2587 EPFO Update: If you are also an EPFO ​​account holder (PF account holders), then there is good news for you. Because the EPFO ​​Department has made some changes in its rules. Knowing whom you will also have no place for happiness. Under the new rule, if you need money, then EPFO ​​you can get the benefit of […]

The post PF withdrawal rule changed: Good News for PF account holders, facility to withdraw Rs 1 lakh will be available first appeared on Rightsofemployees.com.

]]> EPFO Update: If you are also an EPFO ​​account holder (PF account holders), then there is good news for you. Because the EPFO ​​Department has made some changes in its rules.

Knowing whom you will also have no place for happiness. Under the new rule, if you need money, then EPFO ​​you can get the benefit of one lakh rupees (PF withdrawal rule). The good thing is that you will not even need to provide any documents in this process. Let us tell you that on behalf of EPFO, salaried people are being given the facility to withdraw one lakh rupees under advance claim. The purpose of the government behind the change in the rules is only that the patient can get immediate benefits.

Actually, EPFO ​​believes that due to dangerous diseases, many times the patient needs immediate hospital. in order to save his life. Just to save the lives of these patients, EPFO ​​has started this facility. However, to take advantage of this, the patient of the employee claiming you should be admitted to the Government / Public Sector Unit / CGHS Panel Hospital. At the same time, if you have been admitted to a private hospital in an emergency, then an investigation will be done about it. Only after that you can fill the application for medical claim.

Due to serious illness, you can withdraw one lakh rupees in advance from EPFO ​​account immediately. If you are applying on working day then your money will be transferred to the account the very next day. This money can be transferred either directly to the employee’s account or to the hospital. After this, you have to submit the medical slip within 45 days of your discharge from the hospital.

The post PF withdrawal rule changed: Good News for PF account holders, facility to withdraw Rs 1 lakh will be available first appeared on Rightsofemployees.com.

]]> PF withdrawal New rule : Good News for PF account holders, facility to withdraw Rs 1 lakh will be available https://www.rightsofemployees.com/pf-withdrawal-new-rule-good-news-for-pf-account-holders-facility-to-withdraw-rs-1-lakh-will-be-available/ Sun, 07 Aug 2022 12:28:13 +0000 https://www.rightsofemployees.com/?p=1948 EPFO Update: If you are also an EPFO ​​account holder (PF account holders), then there is good news for you. Because the EPFO ​​Department has made some changes in its rules. Knowing whom you will also have no place for happiness. Under the new rule, if you need money, then EPFO ​​you can get the benefit of […]

The post PF withdrawal New rule : Good News for PF account holders, facility to withdraw Rs 1 lakh will be available first appeared on Rightsofemployees.com.

]]> EPFO Update: If you are also an EPFO ​​account holder (PF account holders), then there is good news for you. Because the EPFO ​​Department has made some changes in its rules.

Knowing whom you will also have no place for happiness. Under the new rule, if you need money, then EPFO ​​you can get the benefit of one lakh rupees (PF withdrawal rule). The good thing is that you will not even need to provide any documents in this process. Let us tell you that on behalf of EPFO, salaried people are being given the facility to withdraw one lakh rupees under advance claim. The purpose of the government behind the change in the rules is only that the patient can get immediate benefits.

Actually, EPFO ​​believes that due to dangerous diseases, many times the patient needs immediate hospital. in order to save his life. Just to save the lives of these patients, EPFO ​​has started this facility. However, to take advantage of this, the patient of the employee claiming you should be admitted to the Government / Public Sector Unit / CGHS Panel Hospital. At the same time, if you have been admitted to a private hospital in an emergency, then an investigation will be done about it. Only after that you can fill the application for medical claim.

Due to serious illness, you can withdraw one lakh rupees in advance from EPFO ​​account immediately. If you are applying on working day then your money will be transferred to the account the very next day. This money can be transferred either directly to the employee’s account or to the hospital. After this, you have to submit the medical slip within 45 days of your discharge from the hospital.

The post PF withdrawal New rule : Good News for PF account holders, facility to withdraw Rs 1 lakh will be available first appeared on Rightsofemployees.com.

]]> PF withdrawal rule changed: Good News for PF account holders, facility to withdraw Rs 1 lakh will be available https://www.rightsofemployees.com/pf-withdrawal-rule-changed-good-news-for-pf-account-holders-facility-to-withdraw-rs-1-lakh-will-be-available/ Wed, 03 Aug 2022 10:44:12 +0000 https://www.rightsofemployees.com/?p=1779 EPFO Update: If you are also an EPFO ​​account holder (PF account holders), then there is good news for you. Because the EPFO ​​Department has made some changes in its rules. Knowing whom you will also have no place for happiness. Under the new rule, if you need money, then EPFO ​​you can get the benefit of […]

The post PF withdrawal rule changed: Good News for PF account holders, facility to withdraw Rs 1 lakh will be available first appeared on Rightsofemployees.com.

]]> EPFO Update: If you are also an EPFO ​​account holder (PF account holders), then there is good news for you. Because the EPFO ​​Department has made some changes in its rules.

Knowing whom you will also have no place for happiness. Under the new rule, if you need money, then EPFO ​​you can get the benefit of one lakh rupees (PF withdrawal rule). The good thing is that you will not even need to provide any documents in this process. Let us tell you that on behalf of EPFO, salaried people are being given the facility to withdraw one lakh rupees under advance claim. The purpose of the government behind the change in the rules is only that the patient can get immediate benefits.

Actually, EPFO ​​believes that due to dangerous diseases, many times the patient needs immediate hospital. in order to save his life. Just to save the lives of these patients, EPFO ​​has started this facility. However, to take advantage of this, the patient of the employee claiming you should be admitted to the Government / Public Sector Unit / CGHS Panel Hospital. At the same time, if you have been admitted to a private hospital in an emergency, then an investigation will be done about it. Only after that you can fill the application for medical claim.

Due to serious illness, you can withdraw one lakh rupees in advance from EPFO ​​account immediately. If you are applying on working day then your money will be transferred to the account the very next day. This money can be transferred either directly to the employee’s account or to the hospital. After this, you have to submit the medical slip within 45 days of your discharge from the hospital.

The post PF withdrawal rule changed: Good News for PF account holders, facility to withdraw Rs 1 lakh will be available first appeared on Rightsofemployees.com.

]]> PF Withdrawal New Rules: How many times PF can be withdrawal before retirement, check EPFO rule https://www.rightsofemployees.com/pf-withdrawal-new-rules-how-many-times-pf-can-be-withdrawal-before-retirement-check-epfo-rule/ Mon, 01 Aug 2022 10:50:51 +0000 https://www.rightsofemployees.com/?p=1702 Advance PF Withdrawal: The rules of EPFO ​​say that money can be withdrawn from the PF account many times before retirement, but the reason will have to be given for that. For example, if there is a marriage of a son or daughter in the house, then you can easily withdraw money from PF but […]

The post PF Withdrawal New Rules: How many times PF can be withdrawal before retirement, check EPFO rule first appeared on Rightsofemployees.com.

]]> Advance PF Withdrawal: The rules of EPFO ​​say that money can be withdrawn from the PF account many times before retirement, but the reason will have to be given for that.

For example, if there is a marriage of a son or daughter in the house, then you can easily withdraw money from PF but not more than 3 times. We all know that while in job, Advance PF can be withdrawn . But do we know when and how many times we can withdraw. Provident Fund ( PF ) is our future deposits, which by law should be kept in reserve for retirement only.

But what to do when a difficult situation comes on the forehead. For the same time, the rule of advance withdrawal or advance withdrawal of PF has been made. Employees Provident Fund Organization ( EPFO ) helps you in this. All you have to do is to tell the reason for withdrawing money. Only then does the withdrawal process begin. If the job is lost and there is no money in hand, then this can also be a reason for PF withdrawal.

Apart from this, you can withdraw money in advance for marriage, higher education, building a house to live in, purchase of land to build a house, etc. Now it comes to how much money you can withdraw and how many times you can withdraw money.

If you open your PF account on the website of EPFO, then both the company’s money and your deposited money are visible there. That is, the company and your share appear together in the passbook.

EPFO rules

The rules of EPFO ​​clearly state that the reason you choose for withdrawal decides how much money you will get. If for the reason you have chosen unemployment and did not get salary for two consecutive months, then whatever money you have deposited in PF, you can withdraw it. The second reason is natural disaster.

In this, you will get 75% plus interest of the total amount deposited in PF. OR 3 months salary plus DA. Whichever is less of these two, you will get. Exactly the same rule is for advance withdrawal of PF at the time of Kovid-19. PF advance can be withdrawn only once in the name of Covid-19. The question is that you can apply to withdraw money from PF account many times before retirement and how many times you can get money.

EPFO rules say that money can be withdrawn from PF account many times before retirement, but reason has to be given for that. For example, if there is a marriage of a son or daughter in the house, then you can easily withdraw money from PF but not more than 3 times.

When can you withdraw money

If you want, you can withdraw money 3 times for the education of son or daughter after 10th. If you are buying or building a house or land for it, then you can withdraw money just once.

Any number of times you can withdraw money from EPF account for medical emergency before retirement. There is no prohibition in withdrawing money, but you should also take care of its tax rules. If you withdraw PF money before 5 consecutive years of service, then TDS will be deducted at the rate of 10%. This rate is the same as when giving PAN while withdrawing money.

If PAN number is not given then TDS will be deducted at the rate of 30%. If you withdraw PF money after 5 years of continuous service, then no tax will be levied on it. If an employee transfers his EPF money to the National Pension Scheme or NSC, then he will not have to pay any kind of tax.

 

The post PF Withdrawal New Rules: How many times PF can be withdrawal before retirement, check EPFO rule first appeared on Rightsofemployees.com.

]]> PF Withdrawal: How to claim PF in medical emergency for fast process https://www.rightsofemployees.com/pf-withdrawal-how-to-claim-pf-in-medical-emergency-for-fast-process/ Fri, 01 Jul 2022 06:43:33 +0000 https://www.rightsofemployees.com/?p=790 PF Withdraw New Process: For salaried people, PF money is useful in bad times. Experts also suggest that the salaried class should use PF money only when there is no way left with it. After the introduction of the facility of online withdrawal from PF account by EPFO, people have got a lot of convenience. […]

The post PF Withdrawal: How to claim PF in medical emergency for fast process first appeared on Rightsofemployees.com.

]]> PF Withdraw New Process: For salaried people, PF money is useful in bad times. Experts also suggest that the salaried class should use PF money only when there is no way left with it.

After the introduction of the facility of online withdrawal from PF account by EPFO, people have got a lot of convenience. There are times when you suddenly need money. In such a time, PF only comes in your work.

The money will come in an hour.

Recently, the central government had taken an important decision due to the rapid increase in the cases of corona in the country. After this decision, PF account holders will not have to wait for three days to withdraw money. Yes, now the PF amount will be transferred to your account within an hour of online application. Under this, an amount up to one lakh rupees can be withdrawn.

Money will be used for treatment,

this facility is being given by the government under medical emergency. In the facility started by the government, if a corona patient does not have money for treatment, then he can withdraw the amount deposited in PF for treatment.

Withdraw money this way

  • First of all go to the home page of www.epfindia.gov.in website.
    Now click on Online Advance Claim given at the top right corner. Click
    on https://unifiedportalmem.epfindia.gov.in/memberinterface
  • Here you will see the claim form on the online service, here you will see Form-31,19,10C and 10D.
  • Verify by entering the last 4 digits of your bank account.
  • After this click on Proceed for Online Claim.
  • Select PF Advance from the drop down (Form 31)
  • Now choose the reason for which you want the money.
  • Enter the amount and upload the scanned copy of the cheque.
  • Then enter your address
  • Click on Get Aadhaar OTP and enter the OTP received on the Aadhaar linked mobile.
  • Your claim has been filed. Within a few hours, your claimed money will be credited to the bank account.

The post PF Withdrawal: How to claim PF in medical emergency for fast process first appeared on Rightsofemployees.com.

]]> EPF Withdrawal – New Rules https://www.rightsofemployees.com/epf-withdrawal-new-rules/ https://www.rightsofemployees.com/epf-withdrawal-new-rules/#comments Wed, 18 Apr 2018 08:54:13 +0000 https://www.rightsofemployees.com/?p=369 EPFO Revises Rules For Submission Of PF Withdrawal Claim EPF or employee provident fund withdrawal claims above Rs. 10 lakh don’t have to be filed online. Retirement fund body EPFO or Employees’ Provident Fund Organisation has recently revised some of its rules related to provident fund claims. The EPFO has nearly six crore subscribers and manages a corpus of […]

The post EPF Withdrawal – New Rules first appeared on Rightsofemployees.com.

]]> EPFO Revises Rules For Submission Of PF Withdrawal Claim

EPF or employee provident fund withdrawal claims above Rs. 10 lakh don’t have to be filed online. Retirement fund body EPFO or Employees’ Provident Fund Organisation has recently revised some of its rules related to provident fund claims.

The EPFO has nearly six crore subscribers and manages a corpus of about Rs. 10 lakh crore. In a circular dated April 13, EPFO said offline claims will also be accepted in all cases. EPFO subscribers have the option of filing online as well as manual claims for provident fund withdrawals.

EPF Withdrawal – New Rules

“In case the amount of claim settlement is above Rs. 10 lacs for PF claims and Rs. 5 lacs in respect of EPS withdrawal claims, the claim form must be accepted through online mode only,” the retirement fund body said in a circular in February. But in the April 13 circular, EPFO said that this rule will be kept in abeyance.

“Considering the grievances raised by members, this stipulation will be kept in abeyance so that offline claims will also be accepted in all cases,” EPFO said in the April 13 circular.

 EPFO, in the April 13 circular, also said that for more security, “claims received online from claimants will be sent online to employers for further verification, only after which the claim will be settled”.

The employer, according to the EPFO, has to return the claim, which has been filed online, within three days to the EPFO office, either accepting or rejecting the claim.



Filing EPF Withdrawal Claims Online

EFPO members with authenticated Aadhaar and bank details seeded against their UAN (Universal Account Number) can submit their claims online. A UAN acts as an umbrella for the multiple member IDs allotted to an individual by different establishments.

1) For submitting a withdrawal claim online, subscribers have to first log into EPFO’s member interface using UAN credentials.

(A screenshot of EPFO’s member interface website)

2) Select the relevant claim by clicking on the ‘Online Services’ tab.

(For final settlement of a provident fund deposit, the subscriber is required to select Form 19. He or she can select Form 31 for part withdrawal and Form 10-C for pension withdrawal benefits)

3) EPFO subscribers can track their claim requests online as well. For this, they can click on the Online Services tab and then ‘Track Claim Status’.

Also Read:

 

The post EPF Withdrawal – New Rules first appeared on Rightsofemployees.com.

]]> https://www.rightsofemployees.com/epf-withdrawal-new-rules/feed/ 89