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If you also want to withdraw money from PF account or are withdrawing money repeatedly, then this step can sometimes be harmful. What percentage can you withdraw at one go? Jehanabad’s Chartered Accountant Anant Kumar Pandey gave several advices on how much time can be taken to withdraw the money.
Jehanabad. If you also work in any limited company and your PF gets deducted, then this news can prove to be useful for you. PF of a person working in a private company is deducted. This money is deposited directly into the PF account. EPFO handles or manages your account. This government organization deals with the collection of retirement funds and pension of employees working in private companies.
Golden gift for private employee
In such a situation, if you also want to withdraw money from PF account or are withdrawing money then this step can sometimes be harmful. What percentage of money can you withdraw at one time? Jehanabad’s Chartered Accountant Anant Kumar Pandey gave several advices on how much time can be taken to withdraw the money. He says that PF is a golden gift to the employees working in the private sector. There is a need to understand this properly.
How many times is it right to withdraw PF?
CA Anant Pandey told Local 18 that Provident Fund (PF) is in the form of an emergency fund. In such a situation, use this amount only whenever needed, otherwise leave it deposited. It is never right to withdraw PF money in this way. PF works as a human being’s life jacket. Whenever you retire, it works in such a way that you do not face any financial problems.
What percentage will be the withdrawal?
According to EPFO 3.0, if you have Rs 40,000 in your PF account, then you can withdraw only 75 percent of it. The entire amount can be withdrawn only in certain circumstances. You can withdraw this money only after 12 months. In such a situation, wherever you are working, you must have worked continuously for 12 months only then you can avail this benefit.
strength in difficult times
Seen this way, it is something that comes in handy in difficult times. Whether you are saving in savings account or PF account, you can use this thing in difficult times. No matter how many times you withdraw money from the savings account, there is no problem, but if you are withdrawing money from the PF account again and again, then you are causing a big loss to yourself.
