PF Account: How much money can be withdrawn from PF account at one time, these are the rules

PF Account: Every employee deposits money every month in the Employees Provident Fund i.e. EPFO. A part also goes into this from the company's side. Every month a part of your salary goes into this PF account, that is, when you retire, there is a good amount of money in your PF account. Many people withdraw money from their PF account earlier also. For this you will have to tell the reason for which you are withdrawing money. Today we are telling you what is the maximum amount that can be withdrawn from the PF account at one time.

Under what circumstances can you withdraw money?

First of all, let us know for what purposes you can withdraw PF money. Different categories have been given for this. You can withdraw up to 90 per cent of the money to build or buy a new house, provided you have been employed for at least five years. Apart from this, some money can also be withdrawn from PF for purposes like medical emergency, home loan payment and marriage.

• If you are getting married then you can withdraw 50 percent contribution and interest from your PF account.
• In case of any medical emergency in your family or yourself, you can withdraw 6 times your monthly salary.
• If you withdraw money from the PF account before completion of five years, then it is taxed. However, TDS is not deducted on money less than Rs 50 thousand.
• Any person can withdraw his entire PF money after the age of 58 years. 90 percent of the amount can be withdrawn at one time.

Even if you do not have a job, you can withdraw money from your PF account. If someone is unemployed for more than a month, he can withdraw 75 percent of the amount from his account. In case of unemployment for more than two months, the remaining money can also be withdrawn.