Employees’ Provident Fund (EPF) is administered by the Employees’ Provident Fund Organization of India (EPFO). In an EPF account, 12% of your monthly salary is contributed, and your employer also makes the same amount of contribution to your EPF account. With EPF you can save money for your retirement period. But, what if a financial emergency occurs? Can you withdraw your funds from the EPF account? Yea, you can withdraw 50% or 100% of your deposited money by logging in to the EPFO Unified Portal online. Know in detail about the process of EPFO withdrawal below.
Steps for EPFO Unified Portal Withdrawal You can withdraw the balance in an EPF account either online or offline and here you will learn how to do it online by using the EPFO Unified Portal service.
EPFO Unified Portal Withdrawal method is easily accessible to every employee as it does not require the employer’s attestation or approval. As the online withdrawal process is not routed through the employer and you can submit the withdrawal form directly, there will be fast processing of your application compared to the offline process. Note - It is important to submit the Aadhaar and get it authenticated by the employer When to do EPFO Unified Portal Withdrawal? You can withdraw money from your EPF account for the following reasons -
Conditions for EPFO Unified Portal Withdrawal As you know from the above EPF is an investment scheme for retirement, that is why EPFO Unified Portal withdrawal service will be provided only in case of an emergency. However, keep the following EPFO withdrawal conditions in mind while applying for it -
Note - If the EPFO withdrawal amount < INR 50,000, no TDS shall be deducted if you withdraw funds before 5 years of service.
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Anika Sharma
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