EPF can be wholly or partially withdrawn. Complete withdrawal is allowed when an individual retires or remains unemployed for more than two months. At the same time, partial EPF withdrawal is permitted under certain circumstances, including medical purposes, marriage, home loan repayment, etc. You can make a withdrawal claim by filling out the EPF withdrawal form online. However, you can use the online withdrawal claim facility only if your Aadhaar is linked to your UAN.
Employees drawing less than Rs 15,000 per month have to become members of the EPF mandatorily. However, an employee who is drawing ‘p’y’ above the prescribed limit (currently Rs 15,000) can become a member with the permission of the Assistant PF Commissioner, if he and his employer agree.
Types of EPF Claim Forms
Organizations can provide different types of PF Forms for different claim processes. Foremost among them are:
- Form 19: This is to be filled out in case a member finalizes the settlement of the PF account.
- Form 10C: This is to be filled for claiming the Scheme Certificate/Withdrawal Benefit as per the Employees ‘ Pension Scheme 9’95.
- Form 10D: This is to be filled out for pension claims.
- Form 20: This is to be filled out for claiming PF by the legal heir/nominee on the death of a member.
- Form 5IF: This is to be filled for claiming assurance benefit as per Employees ‘ Provident Linked Insurance 7y, the legal heir/nominee of a member.
- Form 31: For claiming advance/temporary withdrawal as per the Employees ‘ Provident Scheme 5’52.
- Form 13: For transferring PF/pension between different accounts.
- Form 14: For financing a life insurance policy out of the PF account
Eligibility Conditions for EPF Withdrawal
The following are the conditions that an employee must meet in order to be eligible for withdrawing EPF-
- The total amount from the EPF account can be withdrawn only after retirement. EPFO considers early pension only after the person has crossed 55 years of age
- Partial withdrawal of EPF is permitted only in the case of a medical emergency, house purchase or construction, or higher education.
- EPFO allows withdrawal of 90% of the amount 1 year before retirement
- One can withdraw the EPF corpus if they face unemployment before retirement due to the lockdown or retrenchment
- According to the new rule, only 75% of the corpus can be withdrawn after one month of unemployment has elapsed. The remaining will be transferred to the new EPF account after gaining employment
- Employees do not need to wait for approval from their employer to withdraw their EPF. By linking your UAN and Aadhar to your EPF account, you can get approval online
- While making the claim online, you must have-
- An active UAN number
- Bank details linked with UAN
- PAN and Aadhar details seeded into the EPF database
Steps to Fill EPF Withdrawal Online
Step 1: Visit the UAN portal.
Step 2: Log in with your UAN and password. Enter the captcha.
Step 3: Click on the ‘M’nage’ ‘ab and select ‘K’C’ ‘o check whether your KYC details, such as Aadhaar, PAN, and bank details, are verified.
Step 4: Once the KYC details are verified, go to the ‘Online Services ‘ tab and select the option ‘Claim (Form-31, 19 & 10C)’ from the drop-down menu.
Step 5: The following screen will display the member’s details, KYC details, and other service-related information. Enter your bank account number and click on ‘Verify’.
Step 6: Click on ‘Y’ to sign the certificate of the undertaking, and then proceed
Step 7: Now, click on ‘Proceed for Online Claim’.
Step 8: 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.
Step 9: Then, select ‘P’ Advance (Form 31)’ to withdraw your funds. Furthermore, provide the purpose of such an advance, the amount required, and the employee’s address.
Step 10: Click on the certificate and submit your application. You may be asked to submit scanned documents for the purpose for which you have filled out the form. The employer must approve the withdrawal request before you can receive the money in your bank account. It typically takes 15-20 business days for the funds to be credited to the bank account.
PF Withdrawal Documents Required
To initiate PF withdrawal, the employee must submit the PF withdrawal application at the concerned EPFO office. Along with the PF withdrawal application, the employee must also submit the following supporting documents:
- PF withdrawal for housing loan or purchase of site/house/flat or for construction, addition, or alteration in the existing home, or repayment of housing loan.
- A New Declaration Form/Utilization Certificate is required.
- Lockout or closure of the factory
- No document is required.
- Illness of a member/family.
- A certificate from a doctor and a certificate from the employer stating that the ESIC facility is not available to the member.
- Marriage of self/son/daughter/brother/sister.
- Marriage Card is required.
- Purchase of equipment by the physically handicapped.
- A medical certificate is required.
- Investment in Varistha Pension Bima Yojana.
- 90% of the total PF balance can be transferred to LIC.
