PF withdrawal Rules Change: Through PF, you prepare a huge fund for your retirement. A part of the salary is deposited in the PF account every month and you get it after retirement on maturity. But in many circumstances, you can withdraw money from the PF fund in between. Changes have been made in the rules for withdrawing money from PF, which is important to know.
The rule for withdrawing money from PF has changed
If you want to withdraw money from your PF account, then you should be aware of the new rules of the Employees’ Provident Fund Organization (EPFO). EPFO has made a big change in the rules related to PF claim. After the changes made in PF claim, now you will not need an Aadhaar card to withdraw money. EPFO has abolished the requirement of Aadhaar card for all employees for PF claim. Let us tell you that this has been done in some special categories.
Aadhar card will not be required
According to the new rule of EPFO, now Aadhar card is not required to make a claim, however this exemption is only for some special shareholders. According to the new rule, those who do not have Aadhar card will be able to easily claim withdrawal from PF account even without Aadhar card. Those employees have been given exemption to link Universal Account Number i.e. UAN number with Aadhar.
If there is no Aadhaar then which documents will be required
Employees who do not have Aadhaar card can verify their PF claim through passport, citizenship certificate or any official identity card. They can also verify their identity through PAN card, bank account details and other criteria and claim PF. The special thing is that in cases of claims of more than ₹ 5 lakh, the employer will have to confirm the authenticity of the member.
Who will get the benefit
The biggest benefit of this change will be for those foreigners who used to work in India earlier but have now returned to their country. Their Aadhaar card could not be made because they were not Indians. Now with this rule, they will be able to withdraw their money deposited in PF. For PF claim, now under special circumstances, permission has been given to link UAN with Aadhaar.
