By Jasreet Kaur24, Nov 2024 11:00 AMjagranjosh.com
Do you know?
Provident Fund (PF) is a savings plan for employees. Many people have questions about when and how they can withdraw their money safely and easily. Tap to read more.
Who Can Withdraw?
Employees who leave a job, retire, or face financial emergencies can withdraw PF. They must meet specific eligibility criteria.
Partial Withdrawals
PF can be partially withdrawn for education, medical emergencies, or marriage expenses. Withdrawal amounts depend on contribution and purpose.
Is Tax Applicable?
PF withdrawals before 5 years of service are taxable. Beyond 5 years, withdrawals are tax-exempt.
How to Apply?
Applications can be filed online through the EPFO portal. Ensure accurate details to avoid rejections.
Required Documents
Aadhaar, PAN, and bank details are essential for withdrawals. Some cases may need additional documents.
Timeline for Credit
Approved claims are usually credited within 15-20 days. Delays can occur due to discrepancies.