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Lost your job and need money?
TRUST YOUR EPF ACCOUNT! 💰

Employee Provident Fund is a fund where employees deposit a portion of their salary every month FOR SAVING FOR RETIREMENT.

But this doesn’t mean you can’t withdraw money before your retirement.

➡️Partial withdrawal from EPF account can be done under certain circumstances such as Medical, marriage, home loan repayment etc;

➡️COMPLETE WITHDRAWAL of EPF corpus is allowed when an individual retires (or takes early retirement) OR has been unemployed for MORE THAN 2 MONTHS.

I.e.

If you lost your job, then as per the rules:
• If you have been unemployed for more than a month — you can withdraw 75% of your EPF money
• If your unemployment stretches for more than 2 months — you can withdraw 100% of your EPF corpus

However, if you have withdrawn your money and meanwhile got a new job, then you can TRANSFER the remaining money to your new EPF account.

To do this, you have to simple DECLARE your unemployment and fill forms 31 & 10C on the UAN portal.

Thus, if you are in need of emergency cash, you can rely on your EPF account to save your day :)