The Employees Provident Fund Organisation ( EPFO ) has tightened the rules for withdrawal of money from EPF account for the protection of its members.Provident Fund (PF) money is important for your financial security, so extreme caution should be taken while withdrawing it.Your money can get stuck due to small mistakes. Therefore, it is necessary to know which mistakes should not be made while withdrawing PF, so that you can use your money properly without any problem.

Always provide correct information

Do not give wrong information: While withdrawing PF, fill in the personal information such as name, address, PAN number and bank account number correctly. If you give wrong information, then the application may get delayed.Do not rush: Before withdrawing PF, understand all the terms and conditions thoroughly. By taking decisions in haste, you may skip some important procedures, which may create problems later. By having the right information and doing the procedure wisely, you will be safe.

Place the documents carefully

Check other company records: If you have worked in multiple companies, it is very important to get the necessary clearances and documents from all the employers. Follow the procedure properly from your employer so that there is no problem in the future.Submit all required documents: Submit Aadhaar card , PAN card, and bank details on time and correctly. If there is any deficiency in your documents, your application may get rejected.

Pay attention to these things too 

There are some limits while withdrawing PF. You should withdraw only the amount that is necessary and try to withdraw the money only when you leave a job or retire from a company. Make partial withdrawals if needed, but there are some rules for this, so be careful about how much you are withdrawing.If you withdraw PF money before 5 years, you may have to pay tax. Therefore, it is important to know the tax rules.