The Employees’ Provident Fund Organization (EPFO) provides the facility of partial withdrawal and advance from provident fund collection to the EPFO member in select situations. Today we will tell you through our article about some such situations in which only a certain part of the PF amount can be withdrawn. EPFO members can withdraw PF amount for purchase or construction of house, loan payment, non-receipt of salary for 2 months, daughter/son/brother/own marriage, illness of family member etc.
Let us tell you that how much amount can be withdrawn in any situation like ‘Partial Withdrawl’ or ‘Advance EPF’, today we will also inform you about this. In the event of taking advance, some criteria have been set for the EPFO member to fulfill them. For advance or partial withdrawal, you can apply online for ‘PF Withdrawl Form’ by visiting the EPFO member portal.
How to Submit Online PF Withdrawl Application
To ease the process of withdrawing PF amount and save time, EPFO has started the online facility. Before applying on the EPFO portal, it is important for you to know that your UAN (Universal Account Number) is activated or your number must be activated to activate the Universal Account Number. Your account should be linked with Aadhaar, PAN card and back details and IFSC code.
PF withdrawal online method
1) First of all go to EPFO Portal.
2) After that login the account by entering UAN (Universal Account Number), Password and Captcha code.
3) After this click on the KYC option in the Manage tab and check whether the Aadhaar, PAN card and Back details are correct and verified.
4) After verifying the KYC details, go to the online service and select the claim option.
5) Member details, KYC details and service details will appear on the claim screen. After that click on ‘Proceed for Online Claim’ to submit the claim form.
6) In the ‘I Want To Apply For’ of the claim form, you will see the option of full EPF statement, EPF part withdrawal (Loan / Advance) or pension withdrawal. Due to service criteria, you may not be eligible to withdraw PF or withdraw pension, in which case you will not see this option.
Advance can be taken in case of buying or building a house
EPFO allows its members to withdraw basic wage and DA for a maximum period of 24 months for purchase of land. Maximum 36 months basic wage and DA for house/flat/construction or interest plus employee and employer share or total cost of house/construction whichever is less. An employee who has been an EPFO member for 5 years can apply for the advance. PF money can be withdrawn only once during the entire tenure of the job. No other document will be required other than a release to the employee for the advance.
for loan payment
EPFO allows the member to withdraw the total outstanding amount of the Employee and Employer Shares or Loan plus interest whichever is less, with a maximum basic wage of 36 months plus D or interest in special cases. An employee who has been an EPFO member for 10 years can apply for the advance. For partial withdrawal, the employee will need a certificate from the agency detailing the outstanding amount and interest.
Advance will also be available in special case
EPFO members can also apply for the advance amount in the event of company closure or termination or in case of non-receipt of salary (other than strike) for 2 months. In such a situation, the employee’s share and interest earned on the amount can be withdrawn. To take advance, the employee will need a certificate issued by the employer. The member can withdraw maximum 50 percent amount with interest.
to treat illness
The employee can withdraw his Basic and DA amount in full for a maximum period of six months. The employee can withdraw money for illness of himself or any member of the family. No membership period is required for this purpose.
EPFO member can withdraw 50 percent (employee share) PF amount along with interest for marriage of own/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
50 percent (employee share) amount can be withdrawn along with interest for higher education (for post graduation) of son or daughter. The employee who has been an EPFO member for 7 years can apply for the PF amount. The certificate related to the course and the details of the estimated cost by the institute will have to be provided.
one year before retirement
After attaining the age of 54 years and one year before retirement, EPFO member can withdraw 90% of the PF amount as partial withdrawal.