Dear Seniors, could you please tell me what is the time limit of service after which an employee can withdraw his PF balance. thanks in advance..
From India, Visakhapatnam
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1From India, Visakhapatnam
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There is no min time of service required to withdraw PF. After u leave a job, wait for 2 months, & then u can apply for withdrawal in the prescribed Forms.
From India, Mumbai
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From India, Mumbai
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There is no time limit as such; in the following circumstances, one can withdraw their entire PF balance:
1. Permanent migration from one country to another
2. Incapacity to perform the job
3. Voluntary Retirement Scheme (VRS)
4. After retirement
Regards
From India, Pune
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1. Permanent migration from one country to another
2. Incapacity to perform the job
3. Voluntary Retirement Scheme (VRS)
4. After retirement
Regards
From India, Pune
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EPF Rules for Withdrawal and Transfer
The following are the EPF rules for withdrawal and transfer:
A provident fund member can withdraw the complete amount from the fund once they attain the age of 55. Cases where withdrawal is possible before reaching the age of 55 include:
- At the time of termination of service
- Retirement on account of total disablement
- Migration to other countries for permanent settlement
- Retrenchment
A member can withdraw up to 90% of the provident fund amount after attaining the age of 54 and before 55, or actual retirement on superannuation, whichever is earlier. This claim can be made by submitting Form 19 to the concerned EPF.
In cases of withdrawal from accounts of deceased members, the provident fund can be withdrawn by legal heirs by submitting Form 20 to the concerned EPF.
One can also transfer the Provident Fund account from one region to another, from an Exempted Provident Fund Trust to a non-exempted Fund in a region, and vice versa by filing an application for Form 13 to the concerned EPF.
Annual statements of accounts are sent to each organization once the accounts for the year are closed. EPF rules for withdrawal are stated very clearly, and the procedure for the same is also very easy to follow.
Regards,
Narayan
From India, Hyderabad
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The following are the EPF rules for withdrawal and transfer:
A provident fund member can withdraw the complete amount from the fund once they attain the age of 55. Cases where withdrawal is possible before reaching the age of 55 include:
- At the time of termination of service
- Retirement on account of total disablement
- Migration to other countries for permanent settlement
- Retrenchment
A member can withdraw up to 90% of the provident fund amount after attaining the age of 54 and before 55, or actual retirement on superannuation, whichever is earlier. This claim can be made by submitting Form 19 to the concerned EPF.
In cases of withdrawal from accounts of deceased members, the provident fund can be withdrawn by legal heirs by submitting Form 20 to the concerned EPF.
One can also transfer the Provident Fund account from one region to another, from an Exempted Provident Fund Trust to a non-exempted Fund in a region, and vice versa by filing an application for Form 13 to the concerned EPF.
Annual statements of accounts are sent to each organization once the accounts for the year are closed. EPF rules for withdrawal are stated very clearly, and the procedure for the same is also very easy to follow.
Regards,
Narayan
From India, Hyderabad
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PF Calculation Sheet To The Subscribers At the Time Of Provident Fund Withdrawal.pdf
PF WITHDRAWAL RULES.zip