How to apply PF Withdrawal Online

                                                      EPF Withdrawal Online:-

In this article we will cover following topics -

• What is EPF.
• Eligibility to File Withdrawal.
• Documents required for filling Online Claim.
• Checklist to File Withdrawal from EPF Account Online.
• Step-by-step guide to file EPF Withdrawal Claim Online.

• What is EPF?

Employees’ Provident Fund or EPF is a compulsory savings scheme as per the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 initiated by the Government of India (GOI). This investment provision is executed and managed through the Employees’ Provident Fund Organization (EPFO) as a part of the Ministry of Labour & Employment. EPFO members receiving contribution to the fund are eligible to avail EPF withdrawal online when qualifying for defined pre-requisites.

 

This scheme is compulsory for companies with 20 or more employees unless specific exemptions are applicable to such organizations. It is substantiated by a compulsory contribution of 12% of the basic salary of employees in their EPF account, an equal amount of which is deposited by the employer every month. Such calculation also takes into account the dearness allowance and retaining allowance towards the deposit amount. For companies with less than 20 employees, deposit amount accounts for 10% of an employee’s salary in his/her EPF account.

• Eligibility to File Withdrawal:-

Reason for partial withdrawal/ advance	When	Purpose	Maximum amount that can be withdrawn
Education	After 7 years of EPF membership	Education of son or daughter after class 10	50% of employee’s share of contribution with interest only
Marriage	After 7 years of EPF membership	Marriage of self, son/daughter, brother/sister	50% of employee’s share of contribution with interest only
Purchase of land for construction of house	After 5 years of EPF membership	Land should in the name of individual and / or spouse	Least of the following: (a) 24 months’ basic wages and dearness allowance of member; or (b) Member’s share of contribution along with employer’s contribution and interest; or (c) Actual cost towards acquisition of the site
Purchase of house / Construction of house	After 5 years of EPF membership	House should in the name of individual and / or spouse	Least of the following: (a) 36 months’ basic wages and dearness allowance of member; or (b) Member’s share of contribution along with employer’s contribution and interest or; (c) Total cost of construction
Renovation of house	After 5 years from the date of completion of the of the house	House should in the name of individual and / or spouse	Least of the following: (a) 12 months’ basic wages and dearness allowance of member; or (b) Member’s share of contribution along with interest
Medical emergency (For e.g. cancer, TB etc.)		For specified medical treatment of self and family member	Least of the following: (a) 6 months’ basic wages and dearness allowance of member; or (b) Member’s share of contribution with interest
Non-receipt of wages		Employee has not received wages for more than 2 months continuously (for reasons other than strike)	Employee share with interest
Job loss		Un-employed for a continuous period of not less than a month	Up to 75% of the EPF balance i.e. member’s share, employer’s share and interest   Balance 25% can be withdrawn after remaining unemployed for continuous period of two months
To meet pandemic related financial exigencies (For e.g. Corona virus)		If the area is declared to be affected by epidemic or pandemic	Least of the following: (a) 3 months’ basic wages and dearness allowance of member; or (b) 75% of EPF balance i.e. member’s share, employer’s share and interest
Withdrawal within one year before the retirement.	After attainment of 54 years of age by the member or; Within 1 year before his/ her actual retirement on superannuation, whichever is later	Any purpose	Up to 90% of the EPF balance i.e. member’s share, employer’s share and interest
Withdrawal for investment in Varishtha Pension Bima Yojana	After attaining the age of 55 years	Amount to be transferred to the Life Insurance Corporation of India for investment in Varishtha Pension Bima Yojana	Up to 90% of the EPF balance i.e. member’s share, employer’s share and interest
Repayment of housing loan.	After 10 years of EPF membership	Loan should in the name of individual and / or spouse	Least of the following: (a) 36 months’ basic wages and dearness allowance of member; or (b) Member’s share of contribution along with employer’s share of contribution.

        

• Documents required for filing claim online:- 

To file an EPF withdrawal claim online, you are not required to submit any documents, however, the scanned copy of cheque/ passbook has to be uploaded on the Member e-Sewa portal.

 

The bank account number, IFSC and name should be visible on the scanned copy of the cheque and should be readable. EPFO can reject the claim application if the scanned copy of the cheque is not readable.

• Checklist to file withdrawal from EPF account online:-

1.      Universal Account Number (UAN) must be activated.

2.    Aadhaar number should be linked and verified with UAN.

3.    Bank account with correct IFSC should be seeded with UAN.

4.    EPF account must be KYC-compliant.

5.    Mobile number linked with Aadhaar should be active.

Step-by-step guide to file EPF withdrawal claim online:-  

ü  Go to the UAN portal.

ü  Log in with your UAN and password and enter the captcha.

 

ü  Then, click on the tab ‘Manage’ and select KYC to check whether your KYC details such as Aadhaar, PAN and the bank details are correct and verified or not.

 

ü  After the KYC details are verified, go to the tab ‘Online Services’ and select the option ‘Claim (Form-31, 19 & 10C)’ from the drop-down menu.

 

 

ü  The ‘Claim’ screen will display the member details, KYC details and other service details. Enter the last four digits of your bank account and click on ‘Verify’.

 

ü  Click on ‘Yes’ to sign the certificate of the undertaking and then proceed.

 

ü  Now, click on ‘Proceed for Online claim’.

ü  In the claim form, select the claim you require, i.e. full EPF settlement, EPF part withdrawal (loan/advance) or pension withdrawal, under the tab ‘I Want To Apply For’. If the member is not eligible for any of the services like PF withdrawal or pension withdrawal, due to the service criteria, then that option will not be shown in the drop-down menu.

ü  Then, select ‘PF Advance (Form 31)’ to withdraw your fund. Further, provide the purpose of such advance, the amount required and the employee’s address.

 

ü  Click on the certificate and submit your application. You may be asked to submit scanned documents for the purpose you have filled the form. The employer will have to approve the withdrawal request and then only you will receive money in your bank account. It usually takes 15-20 days to get the money credited to the bank account.

 

            

Points to note:-

The online process to file a claim from your EPF account can be done only if your PF money is held with the EPFO.

If your PF money is managed by a private trust or your organisation is an exempted organisation, then you have to file the claim process with your employer.