The EPF interest rates are revised annually and the interest rate for this year 2021-22 has been set at 8.50 percent
To use the mobile app to create a withdrawal request, you need to link your Universal Account Number and the UMANG app to your Aadhaar card.
The Employees’ Provident Fund (EPF), a compulsory contribution from the salaries of people working in the private or government sectors, is one of the most trusted long-term savings programs in India. Aside from creating a pool of money that can be used in an emergency or withdrawn on retirement, the EPF also acts as a collateral and staff can also take out loans for it. EPF also guarantees a good return on the money deposited with EPFO and offers an interest rate that is more than many FDs and investment options. The interest rates are adjusted annually and the interest rate for this year 2021-22 has been set at 8.50 percent. Given the ongoing COVID-19 pandemic situation, the agency that manages EPF funds has now allowed EPFO to allow their account holders to withdraw advances from their account to meet sudden cash needs during the pandemic. Last year, EPFO had approved a similar non-repayable advance withdrawal from the PF accounts.
EPF account holders can easily apply online and take advantage of these programs. In addition, the request to withdraw funds can also be created through the Umang mobile app by following these simple steps. Please note that in order to use the mobile app to create a withdrawal request, you must link your universal account number and the UMANG app to your Aadhaar card.
How to Withdraw PF Using UMANG Mobile App
Step 1- Download the UMANG app from your mobile phone software company’s app store and sign in
Step 2- Next, go to the search menu and look for EPFO
Step 3- Click on “Employee Centric” and select the “Make a Claim” option.
Step 4- Enter your EPF UAN and generate OTP
Step 5- Enter the OTP you received on your registered mobile number, choose the type of withdrawal and submit the request
Step 6- You will now receive a claim reference number that you can use to track the status of the withdrawal request
You can also view and download your EPF passport book online from the website or mobile app.
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