PF Withdrawal vs PF Advance in 2024: Detailed Difference

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PF Withdrawal vs PF Advance

PF Withdrawal vs PF Advance – As per our readers’ demand and comments, we are publishing this article. If you want to know about PF Withdrawal vs PF Advance, continue reading and learn more.

PF Withdrawal vs PF Advance in 2024

CriteriaPF WithdrawalPF Advance
EligibilityYes, through the EPFO portal. Select the ‘PF Advance (Form-31)’ option.Can withdraw partially for specific purposes.
TDSYes, through the EPFO portal. Select the ‘PF Withdrawal (Form-19)’ option.No TDS.
TaxationWithdrawals before 5 years of continuous service are taxable.Withdrawals are exempt from tax.
Maximum Withdrawal AmountFull amount after retirement or remaining unemployed for more than 2 months. Partial withdrawal amount depends on the purpose.Partial withdrawal amount depends on the purpose.
Online ProcessYes, through the EPFO portal. Select the ‘PF Withdrawal (Form-19)’ option.Yes, through the EPFO portal. Select ‘PF Withdrawal (Form-19)’ option.
PF Withdrawal vs PF Advance

PF Withdrawal vs PF Advance Purpose

PurposePF WithdrawalPF Advance
Home PurchaseCan be claimed for purchasing a house or flatCan be claimed for purchasing a house or flat
MedicalCan be claimed for medical treatmentCan be claimed for medical treatment
RetirementCan be claimed after retirementCan be claimed before retirement
UnemploymentCan be claimed if unemployed for 2 monthsCan be claimed if unemployed for 2 months
Natural CalamityCan be claimed for damage due to natural calamityCan be claimed for damage due to natural calamity
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