Learn How to Withdraw PF Easily
Most of the private companies provide Provident fund after the retirement. The amount they deduct every month from their employee is then saved into the EPF Account of their respective employee. The amount of PF is available for fifteen years if the employee withdrawals the fund from their account it will go under strict regulation to use the account. There are three types of Provident Fund is available, below we have explained all three types of Provident Fund in detail
- General Provident Fund
- Public Provident Fund
- Employee Provident Fund
Account holder should have 50% amount in their account. The person cannot withdraw the whole amount at the end of tenure. After the completion of fifteen years, the account holder can expand for five years.
Why Can’t You Withdraw PF earlier?
- The PF allow to withdraw enough amount from the PF account after the retirement. The interest which earned through the PF account is 100% Tax-Free and it is great way to save some money from the salary every month.
- The PF amount is only processed after the retirement, it is advisable not to touch the amount before the retirement. It gives you freedom to enjoy life after retirement.
- If you withdraw any amount from your PF account within 5 years of opening the PF account then you have to Pay tax on the interest you earned from your PF account.
- You can also switch your account to other company if you moved to any other company.
How to withdraw PF Amount without Signature?
it is mandatory to get an attestation from the employer. Get the signature from the previous employer, you have to left the job and get the signature from them. Follow the pf withdrawal process are given without employer signature.
How to Withdraw pf amount with an Aadhaar card?
- To withdraw amount from the Official portal you have to select the Aadhar Card option from the menu.
- The Bank account and the Aadhar card are verified by the employer and it is enabled in the member portal while creating your PF account.
- Activate the UAN and then you can start the withdrawal process without the signature of the employee.
- Download the new employee provident fund from the EPFO web portal. In the form enter the required detail which is given in the form.
- Find the account number of the bank and UAN should be matched on the database.
How to Withdraw PF through UAN Member Portal
First download the the form fill and submit it to the PF office. After submitting the application form the amount of your PF can be received within three months. You can also directly apply for PF from UAN Login. This is the complete guide on PF withdrawal, if you want to learn how to check EPF Balance please click here and want to learn how to register/ Activate the PF account click here