In this post, you will get perfect knowledge about PF (Provident Fund) Withdrawal. Here, PF Withdrawal include some steps to withdraw money, PF withdrawal form and and complete knowledge of online PF withdrawal.
EPF (Employees Provident Fund) is a mandatory savings scheme made for the employees which will help them after retirement. This fund is also known as PF (Provident Fund). As per EPF guidelines, the employee will have to contribute 12 per cent of his basic salary to this fund every month, with the employer also contributing the same amount every month. Employees can withdraw the entire amount deposited in their EPF after retirement. However, premature withdrawals may be made if certain conditions mentioned in this article are met.
PF Withdrawal Form
Various forms are available under the Employees’ Provident Fund (EPF) scheme. Depending on the purpose, the EPF form will vary. Funding for Life Insurance Corporation (LIC) policies, advance of EPF amount and withdrawal of EPF amount are some of the purposes where different forms are required.
Documents Required For PF Withdrawal Form
Most common documents required to withdraw your provident fund balance:
- Form 19
- Form 10C and Form 10D
- Form 31
- Two revenue stamps
- Bank account statement
- Identity proof
- Address proof
- A blank and cancelled cheque (IFSC code and account number should be visible). Also, you should ensure that the cheque provided by you is a single account holder cheque only.
PF Withdrawal Process
There are two types of PF withdrawal process present, one is Offline Process and other is Online process.
Here you just need to Download the Composite Claim Form (Aadhaar) or (Non-Aadhaar) and submit the filled form to withdraw funds. For the composite claim form (Aadhaar) you will need your aadhaar number and bank details and such details are not required for non-aadhaar. After filling out the form you need to submit it to the respective jurisdictional EPFO office with the attestation of the employer.
Online withdrawal is more preferable than offline withdrawal because it conmsumes less time of employees and it is streamlined.
Here’s some conditions should be met to apply PF withdrawal online via EPF portal, they are:
- The Universal Account Number (UAN) is active, and the mobile number used to activate the UAN is in working condition.
- UAN is linked with your KYC, i.e. Aadhar, PAN and Bank details along with IFSC code.
there is no need for the previous employer to attest to your withdrawal application if above conditions are met.
Steps To Apply PF Withdrawal Online In UAN Portal
There are some steps given below to apply PF withdrawal by online,
Step 1: Visit the UAN Portal
Step 2: Log in with your UAN and password. Enter the captcha.
Step 3: Now click on ‘Manage’ and select ‘KYC’ to check your kyc details such as Aadhaar, Pan, and some Bank details are verified or not.
Step 4: Then go to ‘Online Service’ tab after verifying kyc details, select the option ‘Claim (Form-31, 19 & 10C)’ from the drop-down menu.
Step 5: After that screen will display the member details, KYC details and other service details. Enter your bank account number and click on ‘Verify’.
Step 6: After this, click on ‘Yes’ to sign the certificate of the undertaking and then proceed
Step 7: Now click on ‘Proceed for online claim’
Step 8: In 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 service like PF withdrawal or pension withdrawal due to service criteria, that option will not be shown in the drop-down menu.
Step 9: Then, to withdraw you fund select ‘PF Advance (Form 31)’. Also, provide the purpose of such advance, the amount required and the employee’s address.
Step 10: now click on the certificate and submit your application. Here you may be asked to submit scanned documents for the purpose you filled the form. Then 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.
You should know about ‘Form 19’ and ‘Form 10C’ completely before PF withdrawal steps. Its information are given below.
This form allows you to withdraw your PF balance after leaving the job, post retirement or at the time of retirement. Under no circumstances can any institution or institution prevent you from withdrawing from your Provident Fund balance.
The form requires you to fill in the following details:
- Your name as per your payslip
- Your father’s name or husband’s name (married women)
- Provident fund account number (pay slip)
- Reason for leaving the previous service
- Date of leaving the previous service
- Your permanent address
- Your preferred mode of remittance
- Name and address of your establishment
- Contribution for the current financial year
Employees can also claim for PF withdrawal using Form 19 on the EPFO Official website. A new form can be downloaded and filled and submitted on this website.
This form is used to making claims of PF withdrawal. This form is to be submitted by the employees who fall under the age group of 50 years i.e. below 50 years of age. This form is typically submitted with F-19/20 for the following plans:
- Settlement of withdrawal under old Family Pension Fund
- New Employees’ Pension Scheme (EPS 95)
- Scheme certificate for membership retention (under 58 years)
The form requires you to fill in the following details:
- Name of the claimant
- Marital status
- Name and address of the establishment
- Code and account number
- Date of leaving
- Reason for leaving service
This is given when you opt for payment of withdrawal benefit by cheque.
In 2017, EPFO launched new EPF withdrawal forms, which do not require the signature of the employer. The forms are Form 10C UAN, Form 19 UAN and Form 31 UAN. There is eligible criteria to use these forms which includes having a UAN that has been activated and the individual’s PAN, Aadhaar, and bank details should be seeded with the UAN. Additionally, the employer has to verify the KYC of the employee with a digital signature.
In this post we’ve provided the full information about how to add bank account in EPFO and how to withdraw PF from EPFO as you can understand easily we’ve tell everything in steps so it’s easy to understand what need to do thanks you for reading please share this post.
- How to Apply for PF Withdrawal Online
For Applying PF Withdrawal you first need to add your bank account and then you can able to apply for withdrawal. We've provided all steps just follow our steps to add account and withdrawal