PF withdrawal New Rule: If you own a Provident Fund (PF) account, you will find this information helpful. Actually, the PF withdrawal cap was raised by the central government from Rs 50,000 to Rs 1 lakh.
PF withdrawal New Rule: If you own a Provident Fund (PF) account, you should find this news to be helpful. Actually, the PF withdrawal cap was raised by the central government from Rs 50,000 to Rs 1 lakh. Mansukh Mandaviya, Union Minister of Labor and Employment, provided information regarding this modification. According to him, in the event of a family emergency, contributors to the Employees Provident Fund Organization (EPFO) may take a larger amount from their PF account than they had previously.
The Union Minister also disclosed that some regulations have been loosened and assistance has been extended to EPF account holders by the government. This states that an employee is not allowed to take money out of their PF account if they quit their job within the first six months of starting a new one. He stated: “PF contributors can now withdraw even in the first six months, whereas previously one had to wait for a very long period.” Their money is this. While revealing fresh PF information, Union Minister Mandaviya also said that the government intends to raise the income threshold for required provident fund contributions. We would like to inform you that PF account holders are now receiving 8.25% interest from EPFO on their deposits.
PF withdrawal New Rule: Methods for taking out PF funds
1. Emergency medical, educational, and family-related events are often covered by the Employees’ Provident Fund Organization (EPFO).
2. Go to https://unifiedportal-mem.epfindia.gov.in/memberinterface/, the EPFO member e-service portal, and log in with your UAN (Universal Account Number), password, and captcha.
3. After logging in, pick “Claim (Form-31, 19, 10C and 10D)” from the drop-down menu under the “Online Services” option.
4. After that, confirm your personal information before continuing, including your name, birthdate, and other facts. Verify that your KYC information and Aadhaar link are current.
5. Select the cause for withdrawal from the list and choose Form 31 for a partial withdrawal.
6. Your Aadhaar-linked mobile number will receive an OTP once your submission has been made. To authenticate the claim, enter this OTP.
7. After submitting your claim, you may check its progress by using the “Track Claim Status” option located on the “Online Services” tab.
8. Usually, EPFO transfers the funds to your designated bank account in 7–10 business days.
