Can I withdraw money from inoperative EPF account?

2019-09-07 by No Comments

Can I withdraw money from inoperative EPF account?

What are inoperative PF accounts? InOperative PF HelpDesk: EPFO Provides a facility for the subscribers to settle their inoperative PF account through a facility called inoperative helpdesk.

How can I activate my inoperative PF account?

Trace & track your Old & Inoperative EPF account using EPFO’s Inoperative Account Help Desk

  1. Visit epfindia portal and click on ‘Inoperative A/c Helpdesk’ link.
  2. This will take you to ‘EPFO helpdesk website.
  3. Click on ‘first-time user’.
  4. You have to provide a small description of your problem and click on ‘next’ button.

What is inoperative account in EPF?

Accounts which are dormant to any of these reasons below are called “InOperative Accounts” Member has not withdrawn money within 3 years after leaving the company. Member has died before 36 months but the claim has not been filed or settled. Amount remitted to a person has been undelivered or not have been claimed back.

When EPF account becomes inoperative?

-if no claim is received for settlement of the account within 36 months from the date when the amount became payable on cessation of employment. In other words, if the subscriber does not apply for EPF withdrawal within 36 months of quitting his job then the account will become inoperative.

Can I transfer inoperative EPF account?

Each and every employee can get their PF amount back at the time of retirement. Now you can easily trace your inoperative PF account through online and you can withdraw or you can easily transfer from that EPF inoperative account.

What happens to inactive EPF account?

After seven years of being dormant, the money lying in such accounts is transferred to the Senior Citizen Welfare Fund by EPFO. EPF members or their nominees can claim this amount from the Senior Citizen Welfare Fund within 25 years by furnishing the required proofs and documents.

Can I have 2 UAN numbers?

Two UANs can be generated for a single person when the exit date is not updated by the previous employer and/or the UAN is not disclosed by the employee. In case an employee changes his/her job, the UAN that was allotted to them must be given to the new employer.

How long is the EPF account valid?

five years
According to the Income Tax rules, interest on your EPF account becomes taxable if you withdraw any amount before completion of five years “continuous service”.

How can I check my EPF inoperative status?

How to Find Inoperative EPF Account (Help Desk 2021)

  1. Find Your Inoperative EPF Account Number online (Help Line Number 2021) at
  2. The below are the steps to follow to obtain the inoperative EPF accounts.
  3. The below are the steps to find the Inoperative EPF account through online.

How can I transfer my inactive account to PF?

It ask members to register with helpdesk so that EPFO can take further steps to settle such accounts.

  1. Only catch is that member should know some basic details of inactive EPFO Account.
  2. Step 1: Visit
  3. Step 2: Under “For Employees” section click on “Inoperative A/c Helpdesk“.

Does UAN number get deactivated once PF is withdrawn?

The old EPF account will be linked to the new UAN once the UAN is automatically deactivated. The EPFO member will receive an SMS informing them of the old UAN’s deactivation status.

Is it possible to withdraw EPF?

You can withdraw your EPF money totally or partially depending upon your requirement. Full EPF withdrawal can be done after the employee’s retirement or if they remain unemployed for more than 2 months. In addition, if a member has been unemployed for 1 month, they can withdraw 75 per cent of their total PF money from the pension fund.

Is withdrawn EPF amount taxable?

If you have quit your job, you can withdraw your Employees’ Provident Fund (EPF) money even before the completion of five years. However, according to the income tax rules, such withdrawals will be taxable . And not many people know of the tax aspect of withdrawing their EPF money. According to EPF rules, a member can withdraw up to 75 per cent of the accumulated corpus after one month of quitting a job.

Can we withdraw money from EPF account?

Money from the EPF account cannot be withdrawn during employment, unlike a bank account. EPF is a long-term retirement savings scheme. The money can be withdrawn only after retirement. Partial withdrawal from EPF accounts is permitted in the case of an emergency such as medical emergency, house purchase or construction, and higher education.

Is EPF withdrawal taxable post-retirement?

‘ Any interest income accrued on EPF post retirement/resignation is taxable in your hands .’ If you resign/retire/get terminated from your job, but do not withdraw your EPF immediately then interest income earned on your EPF balance is taxable during this non-contributory period.