Dear Friends,
I am working in Oil and Gas industry for past 7 years. I would like to know about various withdrawal limits as per government guidelines under various situations in India. What are the latest withdrawal limits for an individual from his EPF corpus under various situations in India?
From India, Jalalpur
I am working in Oil and Gas industry for past 7 years. I would like to know about various withdrawal limits as per government guidelines under various situations in India. What are the latest withdrawal limits for an individual from his EPF corpus under various situations in India?
From India, Jalalpur
Raja - withdrawal limits have been revised recently, in wake of Coronavirus pandemic.
If you have been unemployed for a continuous period of 2 months from you last working date - you can withdraw 100% of accumulated amount from your current PF account. UAN Passbook Portal will give you an insight of how much you have as a balance.
For partial withdrwal - there are various clauses related to illness, COVID-19 outbreak, job loss, non-continuity of business operations,etc - to provide you a part of your money (upto 75% of total accumulation).
Important:
1. It is very important to transfer all of your PF amounts from your previous jobs to the present PF account - by this, you will have all of the money in one place and account. Tansfers are usually attested by previous/ present employer (depends on your choice completely) and may take from 1 week to 2 months to settle.
2. Activate your UAN and always keep UAN portal updated with latest KYC and Bank Account Number, Phone Number, etc. and this can delay/ jeopardize your withdrawal procedure.
3. Log any complaint and grievance to EPFiGMS Portal - believe me - this is one of the finest and expeditious HR service we have seen from GOI - truly commendable. Someone from Senior Ranks in EPFO will attend to your queries, if you are not satisfied from any provided resolution.
From India, Delhi
47If you have been unemployed for a continuous period of 2 months from you last working date - you can withdraw 100% of accumulated amount from your current PF account. UAN Passbook Portal will give you an insight of how much you have as a balance.
For partial withdrwal - there are various clauses related to illness, COVID-19 outbreak, job loss, non-continuity of business operations,etc - to provide you a part of your money (upto 75% of total accumulation).
Important:
1. It is very important to transfer all of your PF amounts from your previous jobs to the present PF account - by this, you will have all of the money in one place and account. Tansfers are usually attested by previous/ present employer (depends on your choice completely) and may take from 1 week to 2 months to settle.
2. Activate your UAN and always keep UAN portal updated with latest KYC and Bank Account Number, Phone Number, etc. and this can delay/ jeopardize your withdrawal procedure.
3. Log any complaint and grievance to EPFiGMS Portal - believe me - this is one of the finest and expeditious HR service we have seen from GOI - truly commendable. Someone from Senior Ranks in EPFO will attend to your queries, if you are not satisfied from any provided resolution.
From India, Delhi
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TAXABILITY ON EPF WITHDRAWAL.docx