How to Withdraw Pension?

 

Retirement funds refer to the amount of money you save in various ways to increase your financial security in retirement. This amount is typically saved through various pension and investment plans. Certain plans, such as the Employee Provident Fund (EPF), are created by employers. With EPF, you contribute 12% of your base salary to the plan, but your employer pays the contribution. In this way, you can accumulate a certain amount of money over a period of time, and at maturity you will receive a regular income.

How can I withdraw my EPF amount online?

The EPF amount payment process can be done online at the click of a button. To do this, you need to know your UAN number. A UAN (Universal Account Number) is a unique 12-digit number assigned by the Employee Provident Fund Organization (EPFO) corresponding to an EPFO ​​account. UAN number is important for withdrawing his PF amount online.

How many days will the PF amount be credited?

After you submit your application, an EPFO ​​representative will check the documents to ensure that all documents are filled out correctly and there are no gaps. Once verified, your application will be processed and the funds will be credited to your linked bank account within 20 days. If the amount is not credited, you can file a complaint on the same portal.

Withdrawing from a pension fund:

core paper

If his tenure exceeds 10 years, the PF amount will only be available after his 58 years.

If the PF amount is withdrawn in one lump sum, it will be subject to taxation. You can withdraw PF amount without Aadhar but you have to submit PAN.

Cannot withdraw PF amount while busy