The money deposited in the provident fund account serves to secure the future of the employees. Some part of the salary of the employees is deducted and deposited in their PF account every month. This money provides financial security to the post-retirement life of the employees. It is often seen that while working, we have a special need for money for our daughter's marriage or any other important work. In such a situation, EPFO gives its account holders a chance to withdraw advance money. If you do not know about the advance withdrawal rule of EPFO. In such a situation, you must know about this so that you can withdraw money from your provident fund account at the time of need. In this episode, let us know about it in detail -
According to the rules of EPFO, account holders can withdraw advance cash for the marriage of their daughter. Apart from this, they can also withdraw their money from their PF account in advance for any other need.
It is worth noting that PF account holders can withdraw only 50 percent of the total deposit amount including interest from their funds. However, to withdraw this amount, your EPFO membership should be 7 years old.
If you are going to withdraw money from your pf account. In such a situation, you must know about some things. You can withdraw the advance money only for marriage and education not more than three times.
You can withdraw money online while sitting at home. If you are withdrawing money online. In this case, it is necessary to link your PF account with an Aadhaar card. Apart from this, your UN number should also be activated.
(PC: iStock)
