EPF Account Withdrawal: Withdrawing money from PF account in one hour, apply as soon as possible, gradually deducting PF money from your salary is helpful in difficult times. Ever since the government has given the option to withdraw PF money online, people feel very comfortable with it. Until now you had to wait many days to withdraw money from PF, but now the money from PF will be in your account within a few hours.
What are the conditions for withdrawing money?
- There are certain conditions for withdrawing money from an online EPF account.
- The member’s Universal Account Number (UAN) must be active.
- Your bank account registered in EPF account must be linked to Aadhaar.
- You must have eKYC approved and verified by the company.
- Do not submit a withdrawal request if your bank or KYC details are incomplete.
- First of all, apply UAN login and go to “Manage” option. Click on “KYC” here and enter your Aadhaar number and bank details.
- The online complaints function can be used after a minimum of two months, at the end of the employment relationship.
- If you claim too soon after you leave your job, you can get stuck in money. In addition, this will also require the approval of the company.
Easily withdraw money for marriage or illness (EPF Account Withdrawal)
PF money can also be withdrawn at home for emergencies or marriage needs. In the event of a medical emergency, the PF money is in the account within an hour, while if the advance from the marriage has to be withdrawn, the PF advance is in the account within three days.
Important matters regarding EPFO
- The employee must provide his mobile number for the closing balance.
- The form can be completed online (on the EPF member portal) and offline.
- PAN is also required for a final resolution request.
- Employer signature and organization seal are required for the offline settlement process.
EPF Withdrawal Documents Required
To withdraw money from the EPF account, the following documents are required:
- Application form consists of:
- two tax cards
- Bank details (Bank account may only be in the name of the PF holder if he is alive)
- identity card
- extract from the population register
- A blank blank check with the account number and IFSC code
- Personal data such as father’s name, date of birth, etc. correspond to the information on the identity card
- If the employee withdraws the FP amount before the five years of service are completed, they must also submit ITR Forms 2 and 3.
Online process to withdraw money from EPF account
To withdraw money online from EPF account, make sure your UAN is active and linked to your KYC (Aadhaar, PAN and bank account). If you meet this requirement, you can follow the steps below to withdraw money from your EPF account.
Step 1 – Log in to the UAN Member Portal with your UAN and password. drop
Step 3 – Your details will be displayed on the screen. Enter the last 4 digits of your bank account and click on ‘Verify’
Step 4 – Click ‘Yes’ to sign the Commitment Certificate and continue
Step 5 Now click on the option “Continue with online application”
Step 6 Select “PF Advance (Form 31)” to withdraw your money online
Step 7 – A new section of the form will open where you need to select “Item Requires Deposit”, the amount requested and the employee’s address
Please note that any purposes for which employees cannot withdraw funds will be marked in red. scanned documents
Step 10 – Your company must accept your withdrawal request, after which the funds will be debited from your EPF account and credited to the bank account you specified when filling out the withdrawal form.
No EPF invoice needed
The Employees’ Pension Fund Organization (EPFO) has announced that the option to withdraw medical advances up to Rs. An initiative of Rs 1 lakh has been taken for the employees. In the event of an emergency admission during an illness other than the coronavirus, money can be withdrawn from PF.
It used to be possible to withdraw money from EPF even during a medical emergency, but it was available upon submission of a medical bill. At the same time, the new Medical Advancement Service is different from the previous system. You do not have to pay a bill for this. All you need to do is apply and the money will be deposited into your account in just 1 hour instead of 3 days.
Withdraw money from EPF offline account
To withdraw the PF amount, you can go to the concerned EPFO office and submit the compound application form. Aadhaar and non-Aadhaar are two types of compound application forms. Aadhaar form does not need to be verified by the employer/company whereas if you are using a non-Aadhaar form you will need to have it certified by your employer/company before submitting it to the EPFO office of your jurisdiction.
Previously, documents such as Form 19, Form 31, and Form 10C were required to file EPF. However, instead of these documents, only one EPF withdrawal form now needs to be submitted, a composite application form.