Alternatives of Withdrawing EPF
- Advance Withdrawal for Medical Treatment: Under certain medical conditions, you can withdraw a portion of your EPF corpus for medical treatment.
- Loan against EPF: You can apply for a loan against your EPF for various purposes.
The decision to withdraw your pension contribution from EPF is a significant one with long-term consequences. Carefully consider your financial situation, goals, and alternative options before making a decision. It’s also recommended to seek professional financial advice if needed.
Can We Withdraw Pension Contribution From PF While Working?
No, you cannot withdraw your pension contribution from the Employee Provident Fund (EPF) while you are actively employed. The pension portion of your EPF contributions falls under the Employee’s Pension Scheme (EPS), which is meant to provide you with a monthly pension after retirement. However, there are a few exceptional circumstances where you might be able to withdraw your EPF contribution.