Private jobs come under the purview of EPFO scheme. In this, the employee contributes 12 % of its basic salary to EPF account every month. The same money is deposited in the EPF account of the employee every month. The big retirement of this money goes to the fund. The second part goes to the pension fund. He gets the retirement fund money when he retires. He gets pension every month after retirement from the money deposited in the pension fund. In some situations, it is allowed to withdraw money deposited in retirement funds. Let us know what these situations are. If there is no decision, then if an employee remains unemployed for at least a month, then he can withdraw 75 percent of his money. If you remain unemployed for two months or more, the entire money can be withdrawn in the EPF account. The news related to the preamature withdrawal, if the money is withdrawn within 5 years of the EPF account being opened, then it is taxed. However, if the employee withdraws less than Rs 50,000, then that TDS will not be applicable. If you do not want to transfer your PF balance to your PF account of another employee if you change the job, then you can withdraw your money. After the universal account number (UAN) is activated, you can start the transfer process. After the retirement, the Vidrolloy can withdraw the entire money from your EPF account after retiring from the job. The age of retirement in the private sector is 58 and 60 years old. Some employees give retirement to the employee in 58 years, while some give at the age of 60. To get the treatment, an employee himself can withdraw money deposited in EPF for the treatment of wife, children and parents. For this, the limit of six months of basic salary is fixed. For marriage, the campaign can withdraw money from his EPF account for the marriage of himself, son/daughter or brother/sister. He can withdraw up to 50 % of his contribution in EPF account for this purpose. Also read: RBI has removed the fear of Indusind Bank deposits, said that-If someone is building a house or buying a house to build a good home, then he can use his money in EPF. For this, he can withdraw his basic salary for 24-36 months from the EPF account.
