I have been working in the Oil and Gas industry for the past 7 years. I would like to inquire about the various withdrawal limits as per government guidelines in different situations in India. What are the latest withdrawal limits for an individual from their EPF corpus under various circumstances in India?
From India, Jalalpur
From India, Jalalpur
Withdrawal limits revised due to the Coronavirus pandemic
If you have been unemployed for a continuous period of 2 months from your last working date, you can withdraw 100% of the accumulated amount from your current PF account. The UAN Passbook Portal will provide insight into your balance.
Partial withdrawal clauses
For partial withdrawal, there are various clauses related to illness, the COVID-19 outbreak, job loss, non-continuity of business operations, etc., that allow you to withdraw up to 75% of the total accumulation.
Important steps for managing your PF account
1. It is crucial to transfer all of your PF amounts from previous jobs to your current PF account. By doing this, you will consolidate all of the money in one account. Transfers are usually attested by the previous or present employer (depending on your choice) and may take from 1 week to 2 months to settle.
2. Activate your UAN and always keep the UAN portal updated with the latest KYC, bank account number, phone number, etc. Neglecting this can delay or jeopardize your withdrawal procedure.
3. Log any complaint or grievance to the EPFiGMS Portal. This is one of the finest and most expeditious HR services provided by the Government of India. Someone from the senior ranks in EPFO will attend to your queries if you are not satisfied with any provided resolution.
From India, Delhi
If you have been unemployed for a continuous period of 2 months from your last working date, you can withdraw 100% of the accumulated amount from your current PF account. The UAN Passbook Portal will provide insight into your balance.
Partial withdrawal clauses
For partial withdrawal, there are various clauses related to illness, the COVID-19 outbreak, job loss, non-continuity of business operations, etc., that allow you to withdraw up to 75% of the total accumulation.
Important steps for managing your PF account
1. It is crucial to transfer all of your PF amounts from previous jobs to your current PF account. By doing this, you will consolidate all of the money in one account. Transfers are usually attested by the previous or present employer (depending on your choice) and may take from 1 week to 2 months to settle.
2. Activate your UAN and always keep the UAN portal updated with the latest KYC, bank account number, phone number, etc. Neglecting this can delay or jeopardize your withdrawal procedure.
3. Log any complaint or grievance to the EPFiGMS Portal. This is one of the finest and most expeditious HR services provided by the Government of India. Someone from the senior ranks in EPFO will attend to your queries if you are not satisfied with any provided resolution.
From India, Delhi
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