Diabytes
PF withdrawal News
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Withdrawing money from your Provident Fund (PF) is now faster and easier. If your Aadhaar, PAN, and bank details are linked and verified, you can skip the paperwork and get your money in just a few clicks.
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Though nothing has been announced officially yet, it is highly anticipated that EPFO Version 3.0 most likely to be rolled out this month, which will enhance services for over 9 crore beneficiaries. Here are 5 changes you can expect in the latest EPFO version.
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EPFO Version 3.0 most likely to be rolled out this month, which will enhance services for over 9 crore beneficiaries. Here are 5 changes in the EPFO set to launch in June 2025
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EPFO 3.0 is a new digital platform designed to make services faster and easier for EPF account holders.
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You’re allowed to make a partial withdrawal from your PF account under specific situations — but only if your account is at least 5 to 7 years old.
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The EPFO Version 3.0 is set to enhance services for over 9 crore beneficiaries. Here are 5 changes in the EPFO set to launch by May or June.
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The Employees’ Provident Fund Organisation (EPFO) has in the recent months taken several initiatives to make life easier for PF subscribers.
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According to sources, Sumita Dawra, Secretary, Ministry of Labour and Employment had approved the proposal to enhance the limit from Rs 1 lakh to Rs 5 lakh in the 113th meeting of Executive Committee (EC) of Central Board of Trustees (CBT), held last week.
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Auto Settlement Of PF Withdrawal Online: EPFO achieved a record high of 2.16 crore auto-claim settlements as of March 6, 2025, during the current financial year, up from 89.52 lakh in 2023-24.
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Here are the 8 major steps taken by EPFO to streamline the claim settlement process, knowing which can help you withdraw your PF hassle-free and use it for various purposes.
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Union Labour Minister Mansukh Mandaviya announced that EPFO is set to introduce ‘EPFO 3.0’, bringing banking-like convenience to its subscribers.
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Retirement Fund body Employees' Provident Fund Organisation (EPFO) allows PF Subscriber to withdraw their money online.
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PF Withdrawal: The new software is being developed in consultation with the Centre for Development of Advanced Computing (CDAC).
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Both employee and employer contribute to EPF
EPFO allows part withdrawal from the provident fund
EPFO added 18.23 lakh net members in July, 2022
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It also comes in handy in case of emergencies as a certain percentage of the amount can always be taken out from the PF account.
EPF account yields a return of 8.5% annually.
Anyone with a PF account unemployed for a month or more can get a non-refundable advance of up to 75% of the amount available in their PF account.
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The EPFO has given an option to withdraw a portion of money in the event of the COVID-19 crisis or unemployment.
PF is a fund that involves contributions from both employers and employees equally.
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Earlier, it was 12 percent for private organisations.
The employer and employee deposit their contribution with the Employee Provident Fund Organisation (EPFO) every month.
This can be further withdrawn in certain events like retirement, or resignation.
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EPFO allows withdrawal of PF before retirement but if you want to get the money before 5 years of account opening, then TDS (Tax Deduction at Source) is applied on the withdrawal amount.
The PF withdrawal rules clearly state that if the EPF/PF account is attached with PAN, the TDS deduction rates stand at 10 percent while in the case of EPF accounts without PAN, the TDS rate stands at 20 percent.
PF account holders can avoid TDS deduction while taking out money before five years of account opening.
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PF withdrawals for COVID-19 stress.
Partial PF withdrawal.
Advances and service eligibilities against each PF withdrawal.
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When it comes to PF, there is no denying the fact that the most searched query on the internet is how to withdraw money from PF account online.
The number of such search has increased many time since the coronavirus COVID-19 pandemic.
Now, the good news is that you can withdraw money from your PF account in two minutes and all you need is a smartphone and an internet connection.
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