How to Withdraw Full PF Amount Online After Leaving Job: The EPFO has digitized the whole PF withdrawal procedure. To withdraw or transfer PF, simply update the KYC data including Aadhar, PAN, and UAN. Interesting, right? Keep reading!

How to Withdraw Full PF Amount Online After Leaving Job

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Types of PF Withdrawal

You can make three types of PF withdrawals using the EPFO member portal:

  • Final settlement of your PF funds
  • Partial withdrawal of your PF savings
  • Withdrawal of your pension funds

To carry out any of the aforementioned acts, you will require your employer’s consent, i.e. attestation. However, make certain that your Aadhaar card is connected to your UAN.

3 Methods for Withdrawing PF Amount

Members who have an EPF account and have connected their Aadhaar card data to their Universal Account Number (UAN) can withdraw their PF funds in three ways:

1. Final Settlement of the Provident Fund

This form of PF settlement occurs when you reach retirement age and your service life has come to an end. If the account holder dies, the payout is made to the nominee.

2. Partial Withdrawal from Provident Fund

This form of payment withdrawal occurs when you withdraw only a portion of your PF corpus to meet a financial need.

3. Pension Withdrawal Benefits

After ten years of continuous employment with the organization, you are entitled to pension payments upon retirement.

The withdrawal categories indicated above are available through the EPFO member site with employer attestation.

Documents Required for PF Withdrawal

  • Address proof
  • Bank statements in the name of the EPF member
  • Composite claim form
  • Identity proof
  • Income Tax Return (ITR) forms 2 and 3 (if the employee withdraws his EPF corpus before 5 years of continuous service)
  • One canceled cheque on which the IFSC code and account number are visible
  • Personal details, such as date of birth and father’s name
  • Two revenue stamps

Probable Reasons for PF Withdrawal

You can withdraw your PF if certain requirements are met. Here are some reasons why you might want to withdraw your PF funds:

1. To be Used for Educational Purposes

A PF account holder can withdraw up to 50% of their entire Employee Provident Fund contribution (just the employee’s contribution).

You can utilize this money to pay for your children’s post-secondary education as well as your own further education.

2. For Medical Purposes

The hospitalization must last more than a month.

Any major operation requires you to be admitted to the hospital.

The individual must be on a leave of absence allowed by the employer for a sickness such as cancer, TB, paralysis, leprosy, a heart problem, or mental difficulties, among others.

This money is available for withdrawal at any moment throughout your service tenure. You do not need to finish a number of years of service in your current organization for this.

Your six-month salary is the maximum amount you can remove. This sum can be used for personal or family medical treatment.

3. While Unemployed

Any PF account holder who has been jobless for more than a month after leaving employment can take 75% of the accrued money. If the length of unemployment exceeds two months, the remaining 25% can also be withdrawn.

Other possible causes for withdrawal include:

  • If the member has achieved the retirement age.
  • If a female employee is retiring due to marriage, pregnancy, or delivery.
  •  If the individual intends to relocate permanently overseas.
  • There is only one year till retirement.
  • Due to natural disasters or power outages in the establishment, or for investing in the Varishtha Pension Bima Yojana.

4. To Pay Off Existing Debt

To repay your current house loan, you can withdraw an amount equal to 12 times your monthly wage from your EPF. However, in order to be qualified, you must have completed 5 years of continuous service.

The money might be utilized to pay down your current mortgage or to buy a home. The residence must be in your name, your spouse’s name, or owned jointly in order to qualify for the loan. If this is not the case, this advantage cannot be obtained.

5. For a Marriage

You can withdraw funds from your EPF account to cover the costs of your wedding, a child’s wedding, or a sibling’s wedding. This perk, however, is only available if you have completed at least seven years of continuous service.

Up to 50% of the amount contributed to your EPF account, as well as the interest earned, can be used a maximum of three times.

6. For Home Renovations

The house must be at least 5 years old.

You have the option of withdrawing up to 12 months’ basic salary + dearness allowance or an employee’s share with interest, whichever is less.

You must have served for at least 5 years in a row.

The residence you want to remodel must be yours, your spouse’s, or jointly owned.

You can only use this service once in your lifetime.

7. For the Construction or Purchase of a Home

You must have completed at least 5 years of continuous service to be eligible for this facility.

The house or property you are buying must be in your name, your spouse’s name, or both. Any other combination is not authorized.

You can withdraw your basic income + dearness allowance for up to 24 months.

There should be no legal conflicts about the property in question. To get the benefits, you must also present proof of property registration.

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8. For People with Disabilities

According to the PF withdrawal regulations 2023, specially-abled account holders are permitted to take 6 months’ basic income and dearness allowance or the employee’s share of contribution plus interest, whichever is less, to pay for for their equipment.

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