For Land Purchase: Employees having served for minimum 5 years can withdraw 24 times their monthly income plus dearness allowance for purchasing land in name of self and/or spouse.For Education: Employees having served for minimum 7 years can withdraw 50% of their EPF for education of self or children above 10th grade.For Marriage: Employees having served for minimum 7 years can withdraw 50% of their EPF for marriage of self, siblings, or children.The conditions under which EPF can be withdrawn partially are: It becomes illegal to withdraw EPF completely without being unemployed for two consecutive months. The remaining 25% can be transferred to a new EPF account after gaining new employment. As per the new rule, EPFO allows withdrawal of 75% of the EPF corpus after 1 month of unemployment. This only applies to those whose unemployment has been certified by authorized officers.Īn EPF may be withdrawn completely or partially. The EPF money can be withdrawn by individuals after two months from the cessation of employment through an EPFO claim and EPF withdrawal online. The UAN is linked to the EPF account of the employee and thus the need for transferring EPFO online with job switch is eliminated. This number remains the same throughout the lifetime of an employee and can be used while EPF claim. It has been made mandatory by the EPF organization for all employees under the Provident Fund Act to have a Universal Account Number (UAN). This PF can be utilized by employees even during employment and PF withdrawal online. This fund serves the purpose of providing financial support after the employee’s retirement. The same amount is also contributed by the employer which adds to the employee’s contribution as a collection of funds. Procedure for Employee Provident Fund WithdrawalĮmployee Provident Fund (EPF/PF) is a scheme launched in favor of employees under which a certain percentage of the income is contributed monthly by employees in UAN EPFO. When can we withdraw Employee Provident Fund?ģ.
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