Employees’ Provident Fund (EPF) which is a mandatory contribution from the salary of individuals working in private or governments sectors is one of the most trusted long-term saving scheme in India. Apart from creating a pool of money that could be used in an emergency or withdrawn at the time of retirement, the EPF also acts as security and employees can also avail the befit of loans against it. EPF also guarantees a good return on the money deposited with the EPFO and offers an interest rate that is more than many FDs and investment options. The interest rates are revised yearly and the rate for this year 2021-22 has been set at 8.50 per cent. Now in view of the ongoing COVID-19 pandemic situation, the agency managing the EPF funds, EPFO has allowed its account holders to withdraw advance fund from their account to meet the sudden requirement of cash during the pandemic. Last year to the EPFO had allowed a similar non-refundable advance withdrawal from the PF accounts.
EPF account holders can submit their request online easily and avail the benefits of these schemes. Further, the request to withdraw funds can also be created from the Umang mobile app by following these simple steps. Please note that for using the mobile app for generating withdrawal request you need to link your Universal Account Number and UMANG app with your Aadhaar card.
How to withdraw PF through UMANG mobile app
Step 1- Download the UMANG app from the app store of your mobile phone software company and log in
Step 2- Next, go to the search menu and look for EPFO
Step 3- Click on ‘Employee Centric’ and select the Raise claim option
Step 4- Enter your EPF UAN and generate OTP
Step 5- Enter the OTP received on your registered mobile number and choose the type of withdrawal and submit the request
Step 6- You will now be provided with a claim reference number that can be used to track the status of the withdrawal request
Further, you can also view and download your EPF passbook online on the website or the mobile app.