How to Withdraw Old PF Money from Unclaimed EPF Account Online

-How to Withdraw Old PF Money from Unclaimed EPF Account Online

The Employees' Provident Fund (EPF) is a retirement savings scheme for employees in India. It is managed by the Employees' Provident Fund Organisation (EPFO). Employees contribute a small percentage of their salary towards their EPF account, and their employer also contributes an equal amount. The EPF corpus accumulates over the years and can be used by employees when they retire.

However, sometimes employees leave their jobs before they reach retirement age. In such cases, their EPF account remains active but is classified as an 'unclaimed EPF account'. The EPFO requires all such account holders to withdraw their EPF corpus within 3 years of leaving their job.

Withdrawing EPF money from an unclaimed account is a simple process that can be done online. Here's a step-by-step guide on how to do it:

1. Visit the EPFO website and login with your UAN and password.

2. On the homepage, click on the 'Online Services' tab and then select 'For Employees'.

3. On the next page, select 'Claim' from the list of options.

4. On the next page, select 'PF Withdrawal' from the list of options.

5. On the next page, select the reason for withdrawal as 'Unclaimed EPF Account'.

6. Enter the amount you wish to withdraw and then click on the 'Submit' button.

7. Your withdrawal request will be processed and the money will be transferred to your account within 10 days.

-The Process of Withdrawing Old PF Money from Unclaimed EPF Account Online

The Employees' Provident Fund (EPF) is the world's largest social security organisation in India. It is a retirement savings scheme for the employees of the organised sector in India. The EPFO manages a corpus of more than Rs. 10 lakh crore (US$140 billion) with over 60 million active members.

The EPF account can be opened by any employee who is earning a basic salary of Rs. 15,000 per month or more. The employee contributes 12% of their basic salary towards the EPF account, while the employer contributes an equal amount. The EPF account can be used for the employee's retirement, medical emergencies, or housing needs.

The EPF account can be withdrawn only after the employee has retired or reached the age of 55 years. The EPF account can also be withdrawn for the purchase of a house, or for medical emergencies. The EPF account can be withdrawn online through the EPFO's website.

The process of withdrawing old PF money from an unclaimed EPF account is as follows:

1. The employee must log in to the EPFO's website using their UAN and password.

2. The employee must select the 'Withdrawal' option from the 'Online Services' menu.

3. The employee must select the 'Unclaimed PF Withdrawal' option from the 'Withdrawal Type' drop-down menu.

4. The employee must enter the amount that they wish to withdraw from their EPF account.

5. The employee must select the 'Submit' button.

6. The employee will receive an OTP on their registered mobile number.

7. The employee must enter the OTP and select the 'Verify OTP' button.

8. The employee will receive a confirmation message stating that their withdrawal request has been processed.

-The Benefits of Withdrawing Old PF Money from Unclaimed EPF Account Online

Are you a former employee who has left their EPF account inactive for a while? If so, you may be wondering if you can withdraw your old PF money from your unclaimed EPF account online.

The good news is that you can! The process is actually quite simple and can be done entirely online.

Here are the steps you need to follow to withdraw your old PF money from your unclaimed EPF account online:

1. Go to the EPFO website and log in to your account.

2. Click on the ‘Withdrawal’ tab.

3. Select the ‘Final Settlement’ option.

4. Enter the amount you wish to withdraw and select the ‘Online’ option.

5. You will then be prompted to enter your bank account details. Once you have done so, click on the ‘Submit’ button.

6. Your withdrawal request will then be processed and the money will be transferred to your bank account within 10 days.

That’s all there is to it! As you can see, the process is quite simple and can be done entirely online.

So if you’re a former employee who has left their EPF account inactive for a while, be sure to follow the steps above to withdraw your old PF money from your unclaimed EPF account online.

-The Disadvantages of Withdrawing Old PF Money from Unclaimed EPF Account Online

When you withdraw old PF money from an unclaimed EPF account online, you may not get the full amount that you're entitled to. This is because the EPF may deduct a portion of the withdrawal as a service charge.

Another disadvantage of withdrawing old PF money from an unclaimed EPF account online is that you may not be able to withdraw all of your money at once. This is because the EPF may limit the amount that you can withdraw each month.

If you need to withdraw a large amount of money from your unclaimed EPF account, you may want to consider doing it in person at an EPF office. This way, you can ensure that you get the full amount that you're entitled to.