By Admin 
An essential part of the earnings of every job is saved for the safety of his future. Which we call PF i.e. Provident Fund. This scheme, run through EPFO in India, is not only a means of savings, but also a strong economic support after retirement. Every month 12 percent of the salary of the employee is deposited in the PF account and the same contribution is made by his company. This amount increases gradually every month, and the government also pays interest on it. The aim of this is that when a person retires or becomes financially weak, then he can get support from this deposit.
Although EPFO also allows the account holders to withdraw money from their PF account in some important circumstances, such as buying houses, children’s education, marriage, medical emergency or unemployment, but do you know that there are some expenses and works for which you cannot withdraw money from your PF account. In such a situation, let us know what things or works cannot withdraw money from PF account.
PF cannot withdraw money for these things
1. As long as you are in the job, you cannot withdraw full money of PF – If you are still working somewhere, then you cannot remove the entire PF balance. The EPFO allows only those people to remove the full and final settlement of PF, who have retired or have been without jobs for at least 2 months.
2. Daily expenses, hobbies or PF cannot be removed for walking – If you think that you have to take a new mobile by withdrawing PF money, buy a car, or go on a tour, then you cannot do it. The withdrawal of PF is done only due to some necessary reasons, which are fixed in EPFO guidelines.
3. To clear the loan, you cannot remove PF for stock market, mutual funds, or other investment – You cannot invest in stock market or mutual funds with your PF money. Also, you cannot withdraw its money to clear the loan. This money is kept safe only for special circumstances so that you can use it after retirement or in emergency.
4. Can not withdraw PF money to buy a house or car – Many people think that they can buy home, car or bike with their PF money, but EPFO does not allow it.
6. PF cannot be extracted to avoid tax – Some people think that TDS will not be deducted by filling the form 15G or 15H, but if you close the PF account before 5 years and the amount is more than 50,000, then the TDS will be deducted. In this, the tax does not be deducted by keeping the PF account running for at least 5 years.
7. Withdrawal in the name of marriage or education – Some limitations and conditions are fixed to withdraw money from PF. You can withdraw money once for children’s education or marriage, but every time these reasons cannot be withdrawn.
8. Document withdrawal in the name of medical expenses – If you want to remove PF for the treatment of a disease, then you have to give a solid medical document. Money cannot be withdrawn only in the name of medical expenses.
9. Can’t withdraw money by closing PF account – Some people think that as soon as you leave the job, stop the PF account and withdraw money, but this does not happen, unless you are unemployed at least 2 months, you cannot withdraw your PF balance.
Also read: What to do if you do not get 10 thousand of Mahila Employment Scheme, will you get money after imposing code of conduct?