Can I withdraw my PF amount to another bank account?

New Delhi: There are fixed rules for withdrawing money from the PF account of members of Employees Provident Fund Organization (EPFO). Under these rules, members can withdraw money online. They can do so by updating the new bank account in EPFO. A new account can easily be updated online.

Is passbook enough for PF withdrawal?

EPFO has also received queries that ask how the claim would be claimed if there is no check and passbook with the name and banking details of the Member Employee. To this, EPFO ​​has replied that if you do not have a check or bank passbook, the image of bank statement or e-bank statement can also be uploaded.

How can I withdraw my PF from my bank account?

EPF withdrawal can be done through the UAN member portal. The member has to first activate his UAN and then log in to the portal for online withdrawal. The portal can also be used to transfer funds from his old PF account to a new account. Other online services such as eKYC, contact details update, etc.

What is the rule to withdraw PF amount?

Process to Withdraw Employees’ Provident Fund (EPF)

1. Update your Aadhaar number via the UAN portal.
2. Get your Aadhaar authenticated and link it to your UAN.
3. Fill in the withdrawal form at the EPF member portal.
4. Submit the form and you will receive the withdrawn amount.

How can I claim my PF without bank account?

The steps to file an online claim for PF withdrawal are as follows:

1. Login to the EPFO portal using the UAN and password.
2. Verify KYC details by clicking on the ‘Manage’ tab.
3. Next, visit the ‘Our Services’ tab and click on the option titled ‘Claim’ from the drop-down list.

Is PF withdrawal taxable?

This is the amount contributed by you to your EPF. This portion of your withdrawal is not taxable. However, if you have claimed deduction under section 80C on your contribution in earlier years, you may have to pay additional tax as if 80C was not claimed by you for those years.

How can I withdraw my PF without passbook?

On the EPFO web portal, download the new EPF forms to make a withdrawal – Form 19, Form 31 and Form 10C. On these forms enter your name (as stated on your UAN, Aadhaar card and bank account), registered mobile number, address, PAN card number, reason for leaving and date of joining.

How can I withdraw my PF amount offline?

For offline withdrawal, you just need to download the Composite Claim Form (Aadhaar) or (Non-Aadhaar) and submit the filled form to withdraw the funds. For the Composite Claim Form (Aadhaar), you will need your Aadhaar number and bank details but for the non- Aadhaar, such details are not needed.

How can I withdraw my PF if unemployed?

The withdrawal can be done either by submitting a hard copy of the application or by submitting an application online. Seeing the current situation, it is better to submit an online application. After logging in, under the Online Services section, choose Claim (Form-31, 19, and 10C).

Can I withdraw PF amount after absconding?

There is relaxation in this mandatory waiting rule if you fulfill some conditions. You can withdraw your EPF amount if you have not got any job till two months after the resignation. You can withdraw 100\% of the EPF corpus, the employer contribution and EPF interest upon it after 2 months of resignation.

How to withdraw advance money from PF account?

Here are the one more criteria that you can withdraw advance money from PF account. All you need to be required to avail the amount under marriage criteria is that you should have been in to service period for a minimum period of 7 years. An employee can withdraw up to 50\% of his PF amount from his EPF account.

What is the maximum amount an employee can withdraw from PF?

An employee will be allowed to withdraw the pf amount of 90\% if he decides to withdraw the advance amount from PF account before one year of retirement. One can withdraw amount for his / her daughter or son’s higher education. You are permitted to a withdrawal amount of 50\% of his share along with interest.

Can I withdraw money from my EPF account during employment?

Money from the EPF account cannot be withdrawn during employment, unlike a bank account. EPF is a long-term retirement savings scheme. The money can be withdrawn only after retirement. Partial withdrawal from EPF accounts is permitted in the case of an emergency such as medical emergency,…

What is the Marriage criteria for withdrawal of PF amount?

All you need to be required to avail the amount under marriage criteria is that you should have been in to service period for a minimum period of 7 years. An employee can withdraw up to 50\% of his PF amount from his EPF account. You can make up to 3 withdrawals from these criteria.