The employee provident fund organization comes under the ministry of Labor and Employment. It is one of the biggest organizations in the world in terms of highest number of beneficiaries and financial transaction. It is headquartered in New Delhi.
The provident fund scheme deducts a small amount from the salary and transfers it to the provident fund. The inception of provident fund organization was during 1952 and from then it is providing various facilities to the employees. These funds had provided great support and stability to its employees and helped them in their financial constraint.
Employees had the full right to withdraw their amount as per their need.
The withdrawal of epf is performed when the employee fills the epf withdrawal forms furnishing all the necessary details required in the form. Employees can also download the withdrawal forms from the internet and can fill it. The online mode had made things much simpler and removed the tedious manual labor. The online mode saves a lot of time and ease the complex processing. Employees may access their account information from the internet without any complexities. This advancement played a pivotal role in providing great comfort to the account holders and one can access these details from their own places. Initially, the withdrawal of epf was very hectic and one has to run from pillar to post to get the fund. This processing takes lot of time in the documentations and various processes and the employee used to suffer great difficulties in order to get his fund.
However, things had changed a lot; today an employee can fill the online withdrawal forms and can have his amount within few days. This has eased the whole process and is providing great services to the account holders. There are different numbers for different forms, so one must be careful while applying the withdrawal forms. The account holder should have all the necessary details like account number, account code, establishment code and alike in order to furnish the details in the withdrawal forms. If the details provided by the account holder are correct, then the account holder will surely get his provident fund within few days.
The provident fund scheme with online facilities had helped many old aged people in terms of both financial support and easy way of withdraw of funds. These are highly appreciated by the employees, by economics as well as by the critics.