When an employee can withdraw their PF?


There are two ways in which you can withdraw your provident fund.

·        The first is when you reach the retirement age of 58. In this way, you can apply for withdrawal of your provident fund through your employer and get your entire PF amount.

Also, if an employee wants to withdraw their pf balance before turning      58 then you have to be unemployed for two months or more. Then you can apply and withdraw your entire PF amount after-tax deduction.

a) If an individual remains unemployed for one month, he/she can withdraw   75% of his/her EPF amount.

b)  The balance of 25% can be withdrawn if the member remains unemployed for more than two months.

·        Another way to withdraw part of your PF amount before retirement age in case of major life events such as your marriage or your child's wedding, for education, buying a house, or medical emergencies. The portion you can take is up to 50% of the total amount and employees can withdraw the amount after 7 years of working.

·        An individual having a PF account can withdraw upto 50% of funds from the account as loan. Partial withdrawal is possible in case the loan is towards buying/repairing a house. The employee should be in service for 5 years to be eligible to get loan against PF.

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