EPF withdrawal filling the PF form and get claim online benefits of PF withdrawal 2024. PF Withdrawal Process 2024 at http://epfindia.gov.in
PF Withdrawal Process
An EPF account is a mandatory facility for every registered employee under EPFO. The EPF or PF is a significant saving retirement scheme for Indian employees. Private and public companies can register their workers to benefit from the scheme after retirement. However, the scheme allows user to withdraw their PF before the retirement age.
These only happen in considerable events such as medical purposes, marriage, education, home loan, and house renovation. The primary reason for PF withdrawal is that the employee is unemployed for a long time (one month and beyond). The system provides 75% for employees out of work after one month and 25% after two months. Step by step PF Withdrawal Process given below
EPF Withdrawal Online Process
PF Withdrawal Online process
- Visit the EPFO UAN member portal http://www.epfindia.gov.in/
- Using the UAN number and password.
- On the menu, click the tab “online services” proceed and click “claim form-31, 19 and 10C from the list.
- The member details will show on the screen, enter the last four digits of your bank account, and then click verify.
- Next, click the “yes” button to sign the certificate of the undertaking.
- Now select the option “proceed for the online claim” continue and select “PF advance Form 31 to get the funds online.
- The portal will open another part of the form. Choose the purpose of withdrawing the EPF, the amount you require, and the employee address.
- Now tick on the certification, then submit your request.
- If the purpose requires proof documents, you need to upload scanned documents.
- The employer has to check and approve the request. After the approval, you will receive the money to your bank account.
- The portal will send an SMS to your mobile number after the claim process is done. The money process takes 15-20 days from the day of application.
EPF Withdrawal Rules
Conditions for PF withdrawal rules: Employees need to fulfill certain conditions to qualify for EPF withdrawal.
- EPF savings are withdrawn after retirement. The EPFO only allows early retirement to withdraw if the member is past 55 years.
- For partial withdrawal of EPF happens if the member goes through medical issues, house purchase, construction, marriage, or education.
- You can only withdraw 90% of the amount one year before retirement.
- If the employee is not employed before retirement due to several reasons.
- An employee can withdraw 75% of the saving if they are not working after one month. The rest of the amount will be transferred to the new EPF account after gaining employment.
- Employees should link their UAN and Aadhaar to get approval online.
- You can only claim the EPF if you have an active UAN number. The bank account linked to the UAN and PAN card and Aadhaar card linked to the EPF data.
Documents Required PF Withdrawal Online
The EPF member should provide the following details:
- A claim form
- Two revenue stamps
- A bank account statement (which is attached to PF account)
- Identity proof
- Address proof
- A blank and canceled cheque with an IFSC code and account number.
- Personal details: father’s name, date of birth, full names, etc.
Employees should check their conditions before requesting an EPF claim if they request or withdraw the PF amount before five years of continuous services. They will have to facilitate their own ITR forms 2 and 3. This helps provide information about the entire amount deposited in the PF account each year.
For more information about PF withdrawal process visit at http://www.epfindia.gov.in/
EPF Full Form
Employee Provident Fund (EPF)