EPF Withdrawal: Key Details You Must Know Before Accessing Your Provident Fund
Thinking about withdrawing your EPF savings? Before you proceed, it's crucial to understand the key rules and important considerations that can impact your withdrawal process. From eligibility criteria and tax implications to the ideal time for accessing your funds, here’s everything you need to know to make an informed decision about your provident fund withdrawal.
EPF Withdrawal: Withdrawal is done midway during emergencies. Such people must know these important things first. Let's take a look at those key points.
EPF Withdrawal: The Government of India is implementing the Employees Provident Fund Scheme. The scheme is administered by the Employees Provident Fund Organization with the aim of providing retirement benefits and a secure life in old age to the private and public sector employees. Every employee in the country has a chance to become a member. EPFO allots Universal Account Number to every member. PF money is deposited in this account. But PF money is withdrawn in between for some needs. Umang app is very useful in withdrawing the money deposited in employee PF account.
Umang app is useful to access EPFO services. One can monitor their PF accounts directly from their mobile phones using this app. Umang is very useful for tracking PF withdrawal request and its status. Let's see how to withdraw PF money using Umang app. After opening the Umang app on your phone, login with your details and select the EPFO option in the service section. Go to Employee Centric Services section and click Raise Claim. Enter the UN number there. Then OTP will be sent to your registered mobile number. Enter the OTP and then give the required details including your bank account details for the amount you wish to withdraw. After you complete the process you will get a reference number. With Umang app you can withdraw your PF money anytime, anywhere. How to Check PF Balance in Umang App Open the app on your phone and select the EPFO option. Then go to Employee Centric Services section and select View Passbook. Enter your UAN number. You will receive an OTP to your registered mobile number. After entering that OTP your balance details screen play will appear.
