Can I Withdraw My EPF Money Anytime?



EPF refers to fund transferred by employee and employer. It is deducted from their salary. As it is a good way to save money for the better future that’s why no one have any obligation against EPFO (Employee Provident Fund Organization) who manages EPF. Employee can use this money for the temporary period of time for some of the basic needs such as education of children and purchase or construction of house and for health care or if in case there is an injury. For women, the percentage of EPF is less than men. Men employee contributes 12 percent where as women employees contribute 8 percent of the salary. By this women get motivated and choose to work in formal organization.

EPF Withdrawal:

  • Employees’ can’t withdraw the EPF money for free before 5 years.
  • If in case they want to withdraw the EPF money before 5 years then 30 percent TDS is deducted if PAN is not registered but if PAN is registered then 10 percent TDS will be deducted.
  • After the continuous work of 5 year and enrolment the funds which are contributed by employees and employer as EPF are tax free.
  • Employee can withdraw money if he is in need of money due to health issues such as cancer or he has to undergo through major surgery but for this he should be the member of EPFO and he has to prove the ESIS(Employee State Insurance Scheme).
  • Employee can withdraw his 50 percent EPF fund if his property gets damaged in a natural calamity like flood or earthquake.
  • Employee who is handicapped can withdraw advance money to purchase his equipments which may do his work get done more easily.

Final Words: EPFO has made guidelines according to the needs of employee by which they can withdraw money by following such guidelines.

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