Sunday, December 23, 2018

How to withdraw PF amount while working,here is some important tricks

The Employees Provident Fund Organization (EPFO) provides EPFO ​​members with an option to take advance from parcel withdrawal and provident fund collection in a select position. Today, we will tell you through your article in certain times of circumstances that only a certain part of the PF amount can be extracted. EPFO members can buy PF funds for buying or building a home, for loan payment, not getting salary for 2 months, daughter / son / brother / self marriage, family member's disease etc.


Explain how much amount can be extracted in parcel 'withdrawal' or 'advance EPF' in any situation, today we will give you information about this too. In case of advance, certain criteria have been fixed by the EPFO ​​member. For advance or parcel voting, EPFO ​​members can apply online for 'PF withdrawal form' at portal .

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To simplify the withdrawal of PF amount and to save time, the EPFO ​​started online facility. Before you apply on EPFO ​​portal, it is important for you to know that your UAN (Universal Account Number) is activated or your number must be turned to activate the Universal Account Number. Your account should have a list with base, PAN card and back details and IFSC code.

The online method of extracting PF

1) First go to EPFO ​​Portal.

2) After that, log in to the account by entering UAN (Universal Account Number), Password and CAPTCHA code.

3) After that click on the KYC option in the Screen tab to check whether the base, PAN card and back details are correct and validated.

4) After verifying KYC details go to offline service and select Clam option.

5) The member details, KYC details and service details will appear on the claim screen. Then click 'Proceed to im online claim to send the claim form'.

6) In case you want to apply for 'Claim' from Claim Form, you will see full EPF settlement, EPF Part Withdrawl (Loan / Advance) or Pension With Option . Due to service criteria, you may not be able to get a PF withdrawal or withdraw a pension, in that case you will not get this option.

Advance can take place in the home purchase or construction situation

EPFO allows its members to extract a maximum of 24 months Basic Wage and DA for buying land. For home / flat / construction, basic 36 days basic wage and DA or interest along with the Employee and Employee Share or the total cost of the house / building, which is less then can be removed? The employee, who is an EPFO ​​member for 5 years, can apply for Advance only. PF money can be withdrawn only during the entire period of the job. Employees will not need any documents other than shares for advance.


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For loan payment

In the EPFO ​​special case, the member allows a maximum of 36 months of basic wage and with the interest of D and interest, the employee and employer share or the total outstanding amount of loan and interest is also whichever is less. The employee who has been an EPFO ​​member for 10 years can apply for Advance.

Advance also in Eve Case

EPFO may also apply for advance advance amount in case the company is closed or withdrawn from the job or if it is not getting salary (in addition to the strike) for 2 months. In such a case, the interest on the amaloi share and the amount can be removed. Employee will need an Employer Certificate issued to avail advancement. Maximum 50 percent amount can be removed with member interest.

For treatment in the disease

The employee can complete his Basic and DA Amount for a maximum of six months. Employee can withdraw money for the illness of a member of the family or himself. There is no need for a membership period for this purpose.

for marriage

50% (Emory Share) PF Amount can be removed with interest for the marriage of EPFO ​​member of himself / daughter / son / sister etc. Note that the employee who has an EPFO ​​member for 7 years can apply for PF account only.

For higher education

50 percent (Employee share) amount can be withdrawn with interest for higher education (for post-gratuity) of son or daughter. The employee who has an EPFO ​​member for 7 years can apply for the same PF amount. The cost of expenses will be provided by the Certificate and Institute related to the course.

A year before retirement

After the age of 54 and one year before retirement, 90 percent of the PF can be removed as EPFO ​​member parcel withdrawal.

 


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