Provident Fund (PF) Withdrawal

Simplify your business registration with SureTax Bizcare –
your trusted partner for seamless Registration, Compliance, and Management.

Overview

Eligibility:

An individual becomes eligible to withdraw the PF amount after completing 5 years of continuous service.

Permissible Reasons for Withdrawal:

PF withdrawal is allowed in cases such as retirement, unemployment, or for specific personal and medical needs.

Withdrawal Process:

The claim can be filed online via the EPFO portal. An active Universal Account Number (UAN) is mandatory for initiating the process.

Partial Withdrawal:

Partial withdrawals are permitted only for valid purposes like medical emergencies, marriage of self or children, or purchase/construction of a house, subject to conditions.

Tax Implications:

Withdrawals may attract tax liability, especially if made before completing 5 years of service or if the amount exceeds prescribed limits.

Processing Time:

The withdrawal process typically takes around 15–20 days from the date of submission.

Required Documents:

Applicants need to furnish relevant documents, including ID proof, address proof, and a declaration form, to complete the withdrawal process.

Unlock Your Business Financial Potential Today!