When And Why You Can Withdraw Your PF In The Middle Of A Job
For many, a stable livelihood comes from running their own business, while others rely on employment. If you are one of those working a job, you likely enjoy certain benefits beyond just your salary—one of them being Provident Fund (PF). As per regulations, a PF account is opened for salaried employees, where a fixed portion of your salary is deducted each month and deposited into the account. Additionally, the government provides interest on this accumulated amount. While most people know they can withdraw their PF savings after completing their job, not everyone is aware that you can also withdraw from your PF account while still employed. Wondering how and for what reasons? Let’s break it down.
When Can You Withdraw PF Mid-Job?
Yes, it’s possible to access your Provident Fund savings during employment under certain circumstances. Here are the main reasons you can withdraw PF in the middle of your job:
Medical Emergencies or Illness: If you or a family member face serious health issues, PF can be withdrawn to cover medical expenses.
Natural Disasters: In cases of natural calamities like floods, earthquakes, or other disasters, you are allowed to withdraw from your PF.
Home Purchase or Construction: You can withdraw funds to purchase a house, flat, or plot for construction.
Buying a House/Flat from a Promoter: If you plan to buy a ready-to-move-in flat or house directly from a promoter, PF funds can help with the down payment.
Higher Education: For pursuing higher education—either for yourself or your children—you are permitted to withdraw a portion of your PF savings.
Construction of House: Whether it’s a new construction or renovating an existing house, you can use your PF for this purpose.
Marriage Expenses: PF withdrawals are allowed to cover marriage expenses for yourself or close family members like children or siblings.
Non-payment of Wages (More than Two Months): If your employer fails to pay your wages for more than two months, PF can be accessed to manage your finances.
Electricity Power Cuts: In case your work or living situation is affected by prolonged power outages, PF can be withdrawn to mitigate financial burdens.
Renovation/Addition to an Existing House: If you’re adding rooms or making significant changes to your existing home, PF can be used to cover these expenses.
Land Acquisition from Government or Private Agency: If you’re acquiring a plot or land through a government or private agency for construction, PF can help with the purchase.
How to Withdraw PF in Advance: A Step-by-Step Guide
If you find yourself needing to withdraw from your PF during employment, the process is quite straightforward. Here’s how to do it:
Step 1: Visit the EPFO Portal
- First, head to the official EPFO website at unifiedportal-mem.epfindia.gov.in/memberinterface/.
- Log in using your UAN number, password, and captcha code.
- Once logged in, go to the UAN option and click on Online Services.
Step 2: Submit the Claim
- Click on Claim under the services section.
- Enter your bank account number for verification.
- Select the Advance Form and provide the reason for your withdrawal request.
- Specify the amount you want to withdraw.
- An OTP (One-Time Password) will be sent to your registered mobile number. Enter the OTP and then submit your request.
That’s it! After submission, your claim will be processed, and the amount will be credited to your account if approved.
While Provident Fund is generally seen as a retirement savings tool, it also serves as a helpful resource in times of need during employment. Whether you’re facing a medical emergency, planning a wedding, or buying a new home, your PF savings can come to the rescue when used wisely. Now that you know when and how to withdraw your PF mid-job, you can make informed decisions based on your needs.