PF accounts of employed people are opened by the Employees Provident Fund Organization i.e. EPFO. Under government rules, a certain amount is deducted every month from the salary of an employee, and then the company also deposits the same amount in the employee's PF account. At the same time, the government also pays annual interest on this money. At the same time, this money can be useful in your old age because later on you will also get it in the form of a pension. But sometimes people need PF amount due to some of their needs. In such a situation, if you also want to withdraw PF money to meet your needs, then let us know when you can withdraw PF money in advance. You can know about this in the next slides...
You can withdraw PF money for these purposes:-
Due to power cut
Covid advance
For marriage
Purchase of house/flat from the promoter
Purchase of site for construction of residential house
Due to illness
Due to natural disasters
Purchase of house/flat/construction
To pursue higher education
Construction of house
Additions/Alterations to House
Nonreceipt of wages (> two months)
Including the acquisition of the site from the agency.
You should know that as per the rules, you can withdraw money by visiting the official website of EPFO, unified portal-mem.epfindia.gov.in/memberinterface. Just keep in mind that there should be sufficient amount in your account.
(PC: iStock)
