As a worker operating in India, leading companies provide Provident Fund (PF) to their employees. The PF serves as a retirement saving scheme sponsored with the aid of the authorities of India. Every month, a proportion of your earnings is deducted towards PF, and even the organization has to position its contribution percentage. You also earn a hard and fast interest on the total amount of cash. Now, once you stop your activity, you can switch it to a brand new business enterprise. You also can move for PF withdrawal in case you need to withdraw the cash.
Earlier, for PF withdrawal, you had been required to fill the bureaucracy and publish a hard and fast documents. However, today, you could sincerely login to the EPFO internet site and, in just a few clicks, follow for PF withdrawal. Here’s how to go about it.
Prerequisites for PF withdrawal
Before you pass in advance and apply for PF withdrawal, you must recognize your UAN (Universal Account Number). You can get your UAN from your salary slip. Next, if you’re doing this for the first time, you want to go to the eSewa Portal here and set off your UAN.
To set off your UAN, your mobile variety must additionally be connected with the UAN as you may get an OTP for authentication. Your Aadhaar number must further be related to the PF account. If not, then you will need to click on the ‘Manage’ tab observed with the aid of KYC after logging in.
Also, before you may withdraw your provident fund, you may need to feature details, including your financial institution name, account range, and IFSC code. This will make certain that the PF withdrawal quantity will directly get credited in your financial institution account.