Since the EPF stores and grows your money over time, it works as a good investment instrument. There are various circumstances where you might have to withdraw money from your PF account. These include marriage, medical emergencies, construction or purchase of home, repaying existing home loan, further education, alteration or home repairs and renovations.
How to Claim money from a Dormant EPF Account:
A dormant EPF account can be problematic and complicated to handle. Not only does a dormant account force your money to get stuck, but it also eliminates the use that can be made from that cash. As per EPFO, with an approximate of Rs 26,497 crore lying unclaimed in EPF accounts, dormancy of accounts becoming more common.
If you have an unclaimed account, here’s how you can liquidate it immediately:
- Log on to www.epfindia.com.
- Select the ‘For Employees’ section and under that click on ‘Inoperative A/c Helpdesk’.
- Once you do that, you will be directed to the helpdesk page.
- On this page, select the option ‘(a) First Time User Click Here to Proceed’.
- Once the next section arrives describe why your account has been inoperative in the ‘Problem Description’ section.
- Once this is done, on the next page you will have to provide all your relevant details like EPF no, company name and more. Once this is done click on ‘Next’.
- The next page will require you to enter all your KYC details like Aadhaar number, PAN number, bank account number and IFSC code.
- After that click on the ‘Generate PIN’. This will generate a notification that says ‘PIN successfully sent to your mobile’.
- Once this is done, enter the pin and then click on ‘Verify PIN and Submit’.
- Once you have successfully completed submission you will receive an SMS that contains your reference ID. You will also receive an ‘Acknowledgement’ on your screen.
- You can then log on to the Helpdesk log in as a registered member and enter your mobile number and reference number to check the status of your application.
The request will be transferred to the field officer, who will then get in touch with you personally and assist you on steps to be taken further…Read more>>