EPFO New Rules: How much PF can you withdraw during unemployment?
&imwidth=600&imheight=450&format=webp&quality=medium "EPFO New Rules: How much PF can you withdraw during unemployment?")
Is this 25 per cent rule absolute? The EPF balance rule applies to most situations. Photograph: (Imagined by AI)
New EPFO rules: The board has made it mandatory for EPF holders to maintain at least 25 per cent of their contributions in the EPF account.
The Central Board of Trustees (CBT) has significantly changed the rules for subscribers related to withdrawal limits, maintaining the EPF minimum balance, the requirement of minimum service years for partial withdrawal of corpus and pension, etc.
The board has made it mandatoryfor EPF holders to maintain at least 25 per cent of their contributions in the EPF account. This minimum balance has to be maintained at all times. The step has been taken to ensure that members enjoy the high rate of interest.
Is this 25 per cent rule absolute? The EPF balance rule applies to most situations.
According to the new rules of EPFO, employees who have lost their jobs can withdraw their full PF amount only after 12 months of unemployment. Earlier, this requirement was two months.
“It is also decided to change the period for availing premature final settlement of EPF from the existing 2 months to 12 months and final pension withdrawal from 2 months to 36 months,” the EPFO said in a statement.
EPFO said that the decision was taken as it has liberalised partial withdrawals so that members can meet immediate financial needs without compromising their entire savings.
Trending Stories
&im=FitAndFill=(700,400))
)
)
)
)
&im=FitAndFill=(700,400))
)
)
)
)
)
)
)
)
)
)
)
&im=FitAndFill=(700,400))
)
)
)
)
)
&im=FitAndFill=(700,400))
)
)
)
)
)
&im=FitAndFill=(700,400))
)
)
)
After one year of unemployment, members can withdraw the full PF amount. As of now, they can take out 75 per cent of the corpus. However, they won't be allowed to withdraw the remaining 25 per cent.
How to Withdraw PF Online
Here's the step-by-step process based on current guidelines:
1. Log in to EPFO Member Portal: Visit the EPFO portal, enter your UAN, password, and captcha.
2. Online Services: Click on ‘Online Services’ → ‘Claim (Form-31, 19, 10C & 10D)’.
3. Select Form: Choose Form 19 (full withdrawal), Form 31 (partial advance), or Form 10C (pension).
4. Verify Details: Ensure KYC (Aadhaar, PAN, bank) is updated.
5. Bank Details: Enter and verify the bank account linked to UAN.
6. Purpose & Amount: For partial withdrawal (Form 31), select purpose (Essential Needs, Housing, Special Circumstances).
7. Aadhaar OTP: Authenticate via OTP sent to registered mobile.
8. Submit Claim: Claim processed typically within 3-15 working days with updated KYC.