EPF Partial Amount Withdrawal: Check steps here for EPF withdrawal for marriage, medical emergency and property

EPF Partial Amount Withdrawal: The Employee Provident Fund is an important retirement savings plan in India, wherein the employer and employee contribute an equal amount towards the fund. EPF is payable at the time of retirement; this is seen as a major financial security in India. EPFO provides the facility for members to withdraw money even while working under various circumstances. Know here under which conditions you can make a partial withdrawal from your EPF account.

EPF can be partially or completely withdrawn. Complete withdrawal is allowed when an individual retires or remains unemployed for more than two months. However, you can use the online withdrawal claim facility only if your Aadhaar is linked with your UAN. 

Read on to learn all about the EPF withdrawal procedure.

How to withdraw EPF: For house or land

One can withdraw EPFO money after 5 years of contributing. If you want to withdraw money from PF to buy a plot or house, you can withdraw up to 24 times the monthly salary, and for both buying and building a house, you can withdraw up to 36 times the monthly salary.

How to withdraw EPF: EPFO Housing Scheme is also an option
 

You can also withdraw 90 per cent of the total amount of EPFO under the EPFO Housing Scheme to purchase a house, but for this, you must be a member of a 10-member cooperative or a society formed for housing purposes. This contribution to the EPF is necessary for three years. But if the PF money in your PF account is less than Rs 20,000, you cannot avail the benefits of this scheme.

 
How to withdraw EPF: For home renovation or home loan repayment

After making a continuous contribution to the EPF for 5 years, you can also withdraw money for house renovation. This amount can be up to 12 times the monthly salary. If the employee has put in a minimum of 3 years of service, one can withdraw the amount for the home loan payment. In such a situation, one can withdraw up to 90 per cent of the PF balance.

How to withdraw EPF: For medical treatment
 

One can withdraw EPF money at the time of medical emergencies like treatment of a serious illness, permanent disability due to an accident at work, closure of the company, etc. If an EPF account holder wants to withdraw the entire EPF amount for the treatment, they will have to provide proof of hospitalisation for a month or more.
 

How to withdraw EPF: For marriage and studies

One can also withdraw EPF money for marriage and studies. For this, one needs to have 7 years of service. You can withdraw up to 50 per cent of your contribution with interest.

How to withdraw EPF: Losing a Job

If the company is closed for more than 15 days, the employee can withdraw their entire share deposited as EPF at any time. If you have lost your job or have quit and you want to withdraw the funds only after a month, you can withdraw up to 75 per cent of the amount. The outstanding amount will be transferred to your new EPF account upon finding new employment. But if you remain unemployed for two months continuously, you can withdraw the entire PF amount.
 

How to withdraw EPF: Online procedure
 

To withdraw EPF online, you must make sure that your UAN is activated and linked with your KYC (Aadhaar, PAN, and bank details).
Step 1: Sign in to the UAN Member Portal with your UAN and password.
Step 2: Click on the ‘Online Services’ tab and select ‘Claim (Form-31, 19,10C & 10D)’ from the drop-down menu to select the relevant EPF advance withdrawal form.
Step 3: Enter the last 4 digits of your bank account and click on ‘Verify‘
Step 4: Click on ‘Yes’ to sign the certificate of undertaking and proceed further.
Step 5: Now click on the ‘Proceed for Online Claim’ option.
Step 6: Select ‘PF Advance (Form 31)’ to withdraw your funds online.
Step 7: A fresh section of the form will open, wherein you have to select the ‘Purpose for which advance is required’, the amount required, and the employee’s address.
Step 8: Now, tick on the certification and submit your application.
Step 9: You may have to submit scanned documents depending on the purpose for which you have filled out the EPF claim form.
Step 10: Your employer has to approve your withdrawal request, after which the money will be withdrawn from your EPF account and deposited in the bank account mentioned at the time of filling out the withdrawal form.