How to Withdraw Epf Fund or Epf Money
Employees' Provident Fund (EPF) balance withdrawal process can be done in the following steps:
Visit the EPFO website
Login to your account and go to the ‘Online Services’ section.
Click on the ‘Claim’ (Form-19) option.
Fill in the necessary details such as your name, date of birth, and PF account number.
Select the reason for withdrawing your EPF balance.
Submit the request and download the filled form.
Get the form signed by your employer.
Submit the form, along with any required documents, to the EPFO office.
Note: You can withdraw your EPF balance only under specific circumstances such as after completing a minimum service period of two months, in case of unemployment, or for purchasing a house.
Required Documents: You may need to submit additional documents such as your PAN card, Aadhaar card, and bank passbook or cancelled cheque.
- Processing Time: The processing time for EPF withdrawal can vary depending on the EPFO office, but it usually takes around 10 to 15 working days.
- Mode of Payment: The EPF balance will be credited to your bank account, which you have linked with your EPF account.
- Taxation: The EPF balance is tax-free if you have completed five years of continuous service. If you withdraw before completing five years of service, the amount may be taxed as per your tax slab.
- Partial Withdrawal: In some cases, you may be able to withdraw a portion of your EPF balance, such as for the down payment of a house. In this case, you need to submit the required documents and complete the necessary formalities.
Transfer of EPF balance: If you change your job, you can transfer your EPF balance from your old account to your new account. This can be done by submitting a transfer request to the EPFO office.
It's important to consider all the relevant rules and regulations before withdrawing your EPF balance. It's also advisable to consult with a financial advisor to understand the impact of EPF withdrawal on your overall financial situation.
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