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Almost all salaried people contribute a certain percentage of their salary towards their Employee
Provident Fund (EPF) account every month. While most of us know that EPF is an effective tool that
helps generate a corpus for life post retirement, many of us are unaware that you can make a
withdrawal from your EPF account for urgent cash requirements.
However, an EPF account cannot be treated like any other saving bank account implying that there
are certain specified criteria under which withdrawal is permitted from an EPF account. An
individual needs to furnish all relevant documents and satisfy the necessary requirements in order
to be eligible for premature withdrawal of EPF.
Here are the categories and other details with respect to premature withdrawal from EPF.
Withdrawal of money from the account in between two jobs is illegal and is permissible only under
the following two circumstances:
When a member is in between two jobs
If the member has been unable to find another job for over two months
All grievances related to the following subjects can be addressed to the grievance cell:
Withdrawal or final settlement of EPF
Scheme certificate
Transfer of accumulated PF amount
Issuance of PF balance or slip
Return or misplacement of cheque
Payment of insurance benefit
EPF is the corpus that helps build financial stability post retirement. It is, therefore, advisable to
leave the amount undisturbed during employment tenure unless the circumstances are
unavoidable