EPF Withdrawal Rules 2020: 11 Situations when you can Partially Withdraw your PF Money
EPF (Employee Provident Fund) is a long-term investment for retirement. The good news is EPFO, the body which manages EPF allows its subscribers to withdraw money partially under some situations (also known as Non-Refundable Advance in EPF Terms).
EPF Partial Withdrawal Rules 2020
In this post we discuss when and How can PF subscribers partially withdraw money? Also in EPF parlance rules are defined in terms of paragraphs. We have also listed the relevant paragraph with each situation of withdrawal.
PF Withdrawal for Marriage – Paragraph 68K
Eligibility: should have contributed in EPF for at least 7 years
Whose Marriage: Self, Children or Siblings
Maximum Admissible Amount: 50% of employee’s share of contribution at the time of application
How many times: 3 times in entire service period
PF Withdrawal for Education – Paragraph 68K
Eligibility: should have contributed in EPF for at least 7 years
Whose Education: Self & Children – only post matriculation education is eligible
Maximum Admissible Amount: 50% of employee’s share of contribution at the time of application
PF Withdrawal for Medical Treatment – Paragraph 68J
Eligibility: No minimum service condition rule
Whose Treatment: Spouse, Children and parents
Maximum Admissible Amount: 6 times of Wages OR Full of Employee share (whichever is less)
How many times: No Limit (whenever required)
Other condition:
Prolonged hospitalization of more than 1 month
Major surgery in hospital
Treatment for TB, leprosy, paralysis, cancer, mental derangement or heart ailment. In case of employee, he should have sanctioned leave from employer for his treatment.
EPF members can apply for partial withdrawal or advance both offline and offline. The good news is the “EPF Composite Claim Form” is one-pager and one of the simplest form I have seen. The other good thing you need not attach any proof for any withdrawals.
The form asks for basic information like Name, Father/Husband Name, UAN, Date of Joining, PAN, Bank Account Details and Purpose of non-refundable PF Advance.
EPF Partial Withdrawal Online Form
The online form is even simpler as it has most of the details. Login to the UAN Member eSewa Portal. Go to Online Services >> ONLINE CLAIM (FORM 31,19,10C & 10D) and fill the form. You just need to choose Purpose of non-refundable PF Advance and submit the form.
Non-refundable PF Advance
I Hope the post would have helped you understand when you can withdraw partially (Non-refundable PF Advance) from your EPF Account. The process is very simple, and no supporting document is required. However, we recommend using this money only as last resort. EPF is for retirement and should be treated as such.
No related posts.
Amit
Hi Readers! I am Amit, the mind behind Apnaplan.com
I am MBA from NITIE, Mumbai and BIT from Delhi University.
This blog is my online diary where I write about my tryst with my investment decisions. In the 400+ posts on this blog you will find articles on Personal Financial Planning, Investments, Retirement Planning, Insurance, Loans, Fixed Deposits, Provident Funds, Stock Markets, Gold, Silver, Real Estate Investment, Credit Cards, Credit Score, Taxation, Inheritance Planning and Reviews on various Financial Products.
My age is 62 years. Currently get EPF every month . On my death, will the EPF will be paid to my nominee?
Dear Sir ,
Inform you that I claim pf amount withdraw for illness but payment did not received. Which claim settlement payment till date not credited in our account .
View Comments
My age is 62 years. Currently get EPF every month . On my death, will the EPF will be paid to my nominee?
Dear Sir ,
Inform you that I claim pf amount withdraw for illness but payment did not received. Which claim settlement payment till date not credited in our account .