How to withdraw EPF online for buying a new house: Step-by-step guide and key requirements
Employees' Provident Fund (EPF) is a mandatory savings scheme designed to provide financial support to employees after retirement. While the scheme primarily serves as a retirement fund, it also allows early withdrawals for specific purposes, such as purchasing a new house. Here's a step-by-step guide on how to withdraw your PF online for buying a property.
The EPF is funded by contributions from both employees and employers, each contributing 12 percent of the employee's basic salary. The fund accrues interest annually, helping employees build a financial cushion for retirement. Employees can withdraw their EPF funds under certain conditions before retirement, including for buying a house.
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There are two ways to withdraw PF for purchasing a home:
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Before applying, ensure the following:
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To track your withdrawal, log into the UAN portal and select ‘Track Claim Status'. Enter the reference number to check the progress.
By following the steps above, you can easily withdraw your EPF to fund the purchase of a new home, ensuring a smooth and hassle-free process.
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