Here’s how you take an Advance from you EPF Deposits, online way to get Advance PF – TechWeu

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The Employees Provident Fund Organization (EPFO) facilitates EPFO ​​members to avail advance from partial withdrawal and provident fund collection in select positions. Today we will tell you about some such situations in our article in which only a certain part of the PF amount can be withdrawn. EPFO members can withdraw PF amount for purchase or construction of the house, for loan payment, non-payment of salary for 2 months, daughter/son/brother / own marriage, illness of family member, etc.

Let us know how much amount can be withdrawn in any situation with partial ‘Withdrawl’ or ‘Advance EPF’, today we will also inform you about this. In the event of taking the advance, the EPFO ​​member will have to meet certain criteria. You can apply online for ‘PF Withdrawl Form’ by visiting the EPFO ​​member portal for advance or partial withdrawal.

How to submit online PF Withdrawl app

EPFO introduced the online facility to simplify the process of withdrawal of the PF amount and to save time. Before applying on the EPFO ​​portal, it is important for you to know that your UAN (Universal Account Number) is activated or your number must be activated to activate the Universal Account Number. Your account should be linked with Aadhaar, PAN card and bank details, and IFSC code.

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The online method of extracting pf

1) First of all, visit the EPFO ​​portal.
2) After this enter the account by entering UAN (Universal Account Number), Password, and Captcha Code.
3) After that click on the KYC option in the Manage tab and check whether Aadhaar, PAN card, and bank details are correct and verified.
4) After verifying the KYC details, go to the online service and select the clam option.
5) Member details, KYC details, and service details will appear on the claim screen. After this, click on ‘Proceed For Online Claim’ to submit the claim form.
6) In Claim Form’s ‘I Want To Apply For’, you will see full EPF Settlement, EPF Part Withdrawal (Loan / Advance), or Pension Withdrawal options. Due to service criteria, you may not be eligible to withdraw PF or withdraw pension, in such a situation you will not see this option.

You can take advance in the event of buying or building a house

The EPFO ​​allows its members to withdraw a maximum wage and DA of 24 months to purchase land. Employee and Employer shares with a maximum of 36 months basic wage and DA or interest for the house/flat/construction or the total cost of the house/construction, whichever is lower can be withdrawn. An employee who is an EPFO ​​member for 5 years can apply for advance only. PF money can be withdrawn only once during the entire duration of the job. The advance will not require any documents other than the release to the employee.

For loan payment

In the EPFO ​​special case, the member is allowed to withdraw a maximum of 36 months basic wage and D or interest with the Employee and Employer shares or the total outstanding amount of the loan and interest whichever is less. An employee who has been an EPFO ​​member for 10 years can apply for advance only. For partial withdrawal, the employee will need a certificate from the agency that details the outstanding amount and interest.

The advance will also be available in the special case

EPFO members can apply for an advance amount even in the event of company closure or being fired or not getting a salary (other than a strike) for 2 months. In such a situation, the interest on the employee share and the amount can be withdrawn. The employee will need a certificate issued by the employer to get the advance. The member can withdraw a maximum amount of 50 percent with interest.

For treatment in sickness

The employee can withdraw his basic and DA amount for a maximum period of six months. The employee can withdraw money for the illness of himself or a member of the family. There is no need for a membership period for this purpose.

for marriage

EPFO member can withdraw 50 percent (Employee Share) PF Amount with interest for the marriage of own / daughter/son/sister etc. Note that an employee who is an EPFO ​​member for 7 years can apply for PF Amount.

For higher education

50 percent (Employee Share) can be withdrawn with interest for son or daughter’s higher education (for post-graduation). The employee who has been an EPFO ​​member for 7 years can apply for the PF amount only. The certificate related to the course and the details of the estimated expenditure by the institute will have to be provided.

One year before retirement

The EPFO ​​member can withdraw 90% of the PF as partial withdrawal after the age of 54 and one years before retirement.

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Meezan Khan
Meezan Khan
Meezan Khan is passionate about Technology, Gadgets & Games. He loves sharing knowledge for Techweu readers and has frequently written about gadgets, technology, the Internet, & smartphones. Meezan is Editor-in-Chief for Techweu Community, He is available on Twitter at @meezankhan9 or Email at meezan.khan@techweu.com Please send in your leads and tips.
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