EPF Withdrawal Rules: For Medical, Retirement and others

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Employees Provident Fund – EPF is an investment fund which is built over the long-term on the contributions by the employee, employer and the government, in some of the cases. It is the social security program managed by government to provide a safety net to people on their retirement. There are various EPF withdrawal rules that one needs to adhere to in order to make withdrawals from the PF account.

EPF withdrawal can be done in three cases:

    • At the time of retirement (On or after 58 years of age)
    • If unemployed for two months of time
  • Death before the specified retirement age

In case a member wants to withdraw funds from his EPF account, he should keep the following EPF withdrawal rules in mind:

    • Provident Fund withdrawn within 5 years of account opening is taxable
    • It’s not necessary to withdraw provident fund when you change your employer as PF can easily be transferred to a new account through the online process
    • As per the rules, one cannot withdraw Provident Fund balance of a job where you are currently employed
  • Loan (Partial withdrawal) can be availed on employee provident fund

EPF withdrawal : Online Procedure

  • To submit EPF withdrawal online claim, you need to visit the EPFO website.
  • You will find an online claim option on the homepage.
  • Click the online claim option to open the page.
  • The member will be required to feed his Universal Account Number (UAN) as well as password
  • After completing this, you will find claim settlement option
  • You will not be required to to submit the withdrawal form with the company

Note: You are not required to submit an EPF withdrawal form with the company. Field Officer will automatically verify your online claim, but for this, your KYC must be complete on the unified portal.

DDA2290F E72B 446B 825F 7A12F7A43660 - EPF Withdrawal Rules: For Medical, Retirement and others

EPF withdrawal Rules:

    • Retirement : 
        • A person can withdraw his or her entire provident fund corpus after completing 58 years of age.
      • The employee is allowed to withdraw up to 90% of the provident fund balance.
    • Unemployment : 
        • A person can withdraw 75% of his or her provident fund if he/she is unemployed for more than a month.
      • For unemployment of more than 2 months, remaining 25% of the corpus can be withdrawn.
    • For Renovating or Reconstructing a House : 
        • The employee can withdraw funds from his EPF account for the purpose of renovation and reconstruction.
        • The house should be held in his/her name or held jointly with the spouse
        • The employee must complete at least 5 years of total service
      • The member can withdraw 12 times his monthly salary from his Provident fund account
    • For Medical Purposes: 
        • An employee is allowed to withdraw employee’s share with interest or six times the monthly salary (whichever is lower) from the provident fund for the medical treatment purpose.
        • It is applicable for medical treatments of self, spouse, children, and parents.
      • There is no lock-in period or minimum service period for this type of withdrawal.
  • For Wedding : 
      • At least 7 years of service is required to be completed to be eligible for withdrawal
      • 50% of the employee’s contribution with interest can be withdrawn.
    • An employee can withdraw funds for his own, siblings or child’s marriage