EPF works to provide support in old age. The money that is being deducted from your salary in the form of PF is called EPF. EPF is controlled by the EPFO organization. 12 percent of the basic salary of every employed person is deposited in EPF.
You can withdraw this deposited money before retirement in some situations. But the reasons given for withdrawal must be valid. If you withdraw money due to a medical emergency, then there is a high chance that your claim will not be rejected.
When can a claim be rejected?
Giving wrong information - Whenever a claim is made for withdrawal under EPF, keep in mind that the information given is correct. If this information turns out to be wrong, then you may have to suffer a big loss. Filling in the wrong information can lead to your claim being rejected by EPFO.
Claiming more- If you claim more than the amount in your EPF account, it can also get rejected. Therefore, it is important to check the balance before claiming. EPFO sends a message to people every month. In which the balance information is given.
Claiming more than the limit given- You cannot withdraw all the money deposited under EPF. Different rules have been made regarding this. Even if you request to withdraw more money than the limit, the claim gets rejected.
Disclaimer: This content has been sourced and edited from Dainik Jagran. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
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