Provident Fund: If you want to withdraw Provident Fund in an emergency, then know the easiest way..

Every month, a fixed portion of the salary of many people working in private or government jobs is deposited in the Provident Fund (PF) account. This deposit amount is managed by EPFO, and the government invests it in safe places like government bonds, etc.

This fund is saved for our future needs, so that financial support can be provided after retirement or in case of losing a job. Both the employee and the employer contribute to the PF account. But often this question comes to the mind of people that if suddenly an emergency comes, can money be withdrawn from the PF account? And if yes, then how much money can be withdrawn and how? A PF account can help you a lot, not only for retirement but also in difficult times. Let's understand how…

Can money be withdrawn from PF in an emergency?

According to the rules of EPFO, you can withdraw money from your PF account under certain special circumstances. These are situations when a person suddenly needs money and has no other option, such as a medical emergency (for treatment of self or family member), building or buying a house, expenses for marriage or studies, or job loss or long-term unemployment (more than 2 months). In these cases, EPFO ​​allows you to withdraw money in advance from PF.

How much money you can withdraw depends on how many years you have deposited money in PF and for what reason you want to withdraw money.

Easy process to withdraw money from PF
If you want to withdraw PF money in an emergency, then the process is quite easy online. For this, first you have to go to the official website of EPFO ​​and log in by filling in your UAN (Universal Account Number), password, and captcha. If your UAN is not active, then it is necessary to activate it first.

After logging in, you have to click on the “Online Services” tab appearing at the top of the website. There you will find the option of “Claim (Form-31, 19, 10C)”. Click on it. Now your bank details will appear on the screen, verify them and select “Proceed for Online Claim”. After this, you will have to tell the reason for which you want to withdraw money, like illness, house, marriage etc. Then you will be asked how much is to be withdrawn. After this, a copy of the bank passbook or a cancelled cheque will have to be uploaded.

Finally, you will be verified through OTP from Aadhaar. If all the information is correct and the documents are clear, then your PF claim is transferred to your bank account within 3 to 7 days.

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