EPF withdrawal rules: When can you partially withdraw your PF money?

EPFO allows subscribers to withdraw money from Employees’ Provident Fund for specific purposes. (Priyanka Parashar/Mint)

Employees’ Provident Fund Organisation (EPFO), the retirement fund body allows subscribers to withdraw moneyfrom Employees’ Provident Fund for specific purposes. Partial withdrawal is allowed for marriage, education, purchase or construction of a house, purchase of land, home renovation, repayment of home loans and 12 months before retirement.

1) Marriage: An EPFO member can withdraw up to 50% of the money from the EPF account for his or her own marriage, the marriage of his or her daughter, son, sister or brother. However, the person should have completed contribution to EPF for seven years.

2) Education: EPFO members can withdraw money for the post-matriculation education of his or her son or daughter under certain conditions. The member is required to have completed seven years’ membership of the EPFO.

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3) Purchase or construction of a house: EPFO members can withdraw money for construction of house or purchase for site of the house. The member is required to have completed five years’ membership of the EPFO.

4) Home Renovation

The member can withdraw partially from PF when he or she wants to repair or alter the residence. It can be availed two times:

a) Five years from completion of house

b) Ten years from availing the above

5) Medical purposes

PF money can be partially drawn for medical purposes. 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.

6) Repayment of home loans

The EPF subscriber is allowed to withdraw from the corpus for repayment of outstanding principal and interest towards a home loan under certain conditions.

However, to withdraw the amount, at least 10 years of service completion is required

7) 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

Process to withdraw Employees’ Provident Fund (EPF)

The process of withdrawing Employees’ Provident Fund has been made quick and easy. It can be done in two ways

Submission of a physical application for withdrawal

To apply for such withdrawal online, the subscriber must have an active UAN (Universal Account Number) and the mobile number used for activating the UAN number should be in working condition.

Submission of an online application

Single Page Composite Claim Form has been introduced by EPFO to replace multiple claim form like Form 19, Form 10C, Form 31 etc. These claim forms are accepted and processed on self-attestation basis without the need for attestation by the employer.

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