EPFO Rule Change The Employees Provident Fund Organization has changed the rule of partial withdrawal from the PF account. Now EPFO members can withdraw up to Rs 1 lakh from the PF account. In this article, we will tell you when partial withdrawal can be made from the PF account and what is the method of claiming for partial withdrawal.
The Employees’ Provident Fund Organization ( EPFO ) is providing many facilities to its members. By investing in EPFO, on one hand, investors can earn huge funds as well as get the benefit of pension. Apart from this, EPFO also allows members to make partial withdrawals. Now EPFO has changed the rules for partial withdrawal (EPFO Rule Change).
EPFO New Rule
EPFO has changed the rules for partial withdrawal. This information was given by Union Labor Minister Mansukh Mandaviya. Mansukh Mandaviya said that the limit of partial withdrawal from PF account has been increased. Now EPFO members can withdraw Rs 1 lakh instead of Rs 50,000 from PF account.
Apart from this, now withdrawal can be done within 6 months of starting the job. Earlier, the member had to wait longer for full withdrawal, but now it is not so. If an employee leaves the job within 6 months, then he can make full withdrawal from the PF account.
Process of withdrawing funds from PF account
- Go to EPFO’s e-service portal. Click on the member option here.
- After this, log in with the help of UAN, password and captcha.
- After logging in, go to ‘Online Services’.
- Now choose one of Form-31, 19, 10C and 10D.
- After this verify the personal details.
- Now select Form 31 and enter the reason for withdrawal.
- After this, fill the OTP received on the registered mobile number and submit it.
After submitting the form, go to ‘Online Services’ and track the claim. You can also check the status of the claim from here. Please note that the claim amount is transferred to the bank account by EPFO within 7 to 10 days.
When can I withdraw funds?
You can withdraw money from your PF account in case of medical, marriage, education or any family emergency.
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