When an employee leaves their job or retires, they must file an EPF (employee provident fund) withdrawal claim. A request for a PF claim can be submitted using the EPF withdrawal form. After one month of unemployment, you can withdraw 75% of your epf balance check, with the remaining 25% available after two months. It’s important to note that you can only request an online withdrawal if your Aadhaar number is connected to your UAN number (universal account number).
To make an online withdrawal claim, you’ll need the following:
- A UAN number that already exists
- PAN and Aadhar numbers are used to identify bank accounts.
Eligibility Criteria for EPF Withdrawal
- Money from an EPF account can normally only be withdrawn once the account owner has reached retirement age. If an individual has reached the age of 55, EPFO will authorise an early withdrawal.
- One year before retirement, EPFO only allows a 90 percent withdrawal.
- Furthermore, partial EPF withdrawal is only permitted in the event of a medical emergency, home construction, or higher education.
- The EPF corpus may be withdrawn if a person is facing unemployment even before retirement due to a lockout or layoff. To file an EPF claim, employees do not need to wait for their employer’s approval.
- Furthermore, according to current law, only 75% of the corpus can be confiscated after one month of unemployment.
- If an employee withdraws PF funds before completing five years of continuous service, ITR Forms 2 and 3 must be filled out.
EPF Withdrawal Claim Form
Employees can use the composite claim Form to file a partial withdrawal or final compensation claim. Withdrawing PF funds used to require Form 31, Form 19, and Form 10C. It has now been replaced by a composite claim form. Furthermore, the submission of this application does not necessitate the company’s accreditation.
You will need to use a different PF withdrawal form depending on your age, the purpose of the claim, and your employment circumstances. To find out which form is suitable for your claim, contact our team.
Online Procedure for Withdrawing EPF
- Follow the procedures below to select an EPF withdrawal form and submit an online claim:
- the first step, Log in to the UAN Member Portal with your UAN and password.
- 2nd Step From the first menu bar, select ‘Online Services,’ then ‘Claim (Form – 31, 19, & 10C)’ from the drop-down menu:
- Step 3:Details about the members will be displayed on the screen. Also, enter the last four digits of your business’s bank account and click the ‘Verify’ option.
- Step 4:Finally, click ‘Yes’ to accept the terms and conditions of the certificate of undertaking.
- Step 5:From the drop-down box, choose ‘Proceed for Online Claim.’
- The Sixth Step, Select ‘PF Advance’ to get your provident fund money (Form 31).
- Step 7: A new screen will appear, requiring you to input the reason for the advance, the amount required, and your home address. All of the alternatives from which a person cannot withdraw from PF will be indicated in red.
- Step 8: Go to certification and fill out the form to request certification.
- The Ninth Step, you may be asked to deliver scanned documents based on the objective you selected in the previous form.
- The tenth step, Before monies are taken from your epfo login account and deposited into the bank account mentioned on the withdrawal form, your employer must accept your withdrawal request.
An SMS notification will be sent to your EPFO-registered mobile number. Once the claim is processed, the funds will be transferred to your bank account. It takes roughly 15-20 days to complete this operation.