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EPF Withdrawal

PF Withdrawal Online

Last Updated 15th Aug 2020

6th August 2020 – RBI keeps Repo Rate unchanged at 4%

You can check or track the EPF withdrawal status via both online and offline methods. You can check the PF claim status online through:

  • EPF withdrawal can be done in following cases: Wedding, education, purchase of land, purchase of a home, home loan repayment, home renovation, medical emergency and unemployment.
  • EPF withdrawal can be done upto a certain limit and after a specific period of employment.
  • EPF withdrawals can even be made a year before retirement as a person turns 57 years of age.
  • Types of EPF withdrawal: Final settlement of PF, partial withdrawal of PF, and pension withdrawal.
  • To withdraw EPF online one requires the Unique account number and password for logging in on the EPFO's official web portal.

Types of PF Withdrawals

The individuals who have subscribed to the EPFO and have their Aadhaar linked with the UAN that is the Universal Account Number can avail three types of Provident Fund withdrawals. These are listed as follows:

  • Final Settlement of PF- This type of withdrawal is made when the employment period ends for an individual, and he or she proceeds towards retirement.
  • Partial Withdrawal of PF- Partial withdrawals of PF is made in case of emergencies like medical emergency or unemployment for a long time.
  • Pension Withdrawal Benefit- The pension withdrawal allows the PF account holder to regularly withdrawal funds instalments instead of lump-sum during the retirement period or the employment period.

EPF Withdrawal Online Procedure

To follow the PF withdrawal online procedures, you need to have UAN or the Universal Account Number, which must be linked to your KYC details such as Aadhar, PAN, bank details and IFSC code. EPF claim can be made online on the EPFO claim online portal or website. Withdrawals can be made by following the below-mentioned PF withdrawal process:

Step 1: Visit the online portal of UAN at https://unifiedportal-mem.epfindia.gov.in/memberinterface/

Step 2: Go to the 'Login' option, and log in using your UAN and EPFO password.

Online Portal Login

Step 3: After logging in, click the 'Manage' tab and verify your KYC details like the PAN, Aadhaar and the bank details.

Manage

Step 4: After getting the KYC details verified, click on the 'Online Services' tab option and choose the 'Claim' option from the drop-down menu. Choosing the claim option brings the KYC details of the logged-in member on the screen.

Online Services

Step 5: Enter the last four digits of the required bank account in order to verify the details, and click on 'Verify.'

verify the details

Step 6: Tap on the 'Yes' option to sign in the certificate of undertaking

sign in the certificate of undertaking

Step 7: Further, Click on the option 'Proceed for online claim' and submit the claim forms for EPF withdrawal, as under the tab 'I want to apply for'.

Step 8: After filling the details of the form and the reason for PPF withdrawal, click on the certification to submit the claim application.

Step 9: On successful submission of the EPF withdrawal, an approval request is sent to the employer. After the employer approves the request, the amount is withdrawn from the EPFO claim account, and funds are deposited in the respective bank account of the EPFO home member.

EPF Withdrawal Form/Composite Claim Form

A Composite claim form is an application form required to claim withdrawal from one's PF account. The PF claim form is required for both partial withdrawals and for final settlement claims. Prior to the composite claim form, one required different forms like Form 31, and form 10C or Form 10D. However the composite claim form or the PF withdrawal form has replaced all the EPF withdrawal forms into one. The form is also called the EPF withdrawal form and requires the Aadhar details of the employees. This form has made claiming the EPF withdrawal online process easy, as one is not required to get the form attested from the employer.

Eligibility Criteria for EPF Withdrawal

In order to withdraw funds from the EPF account one needs to fulfil certain eligibility criteria, as listed below:

  • If the employee is still under employment, funds can be withdrawn after ten years of eligible service. He or she needs to fill EPF withdrawal form 31 for the offline method and the Composite claim form or the PF claim form for the online procedure.
  • If the employee has passed 58 years of age, but still continues his service he can withdraw funds from EPF by filling the form 10C through the offline method or the composite claim form online.
  • If an employee changes job and wishes to transfer the PF funds to a different account. Also, if a person stays unemployed due to the job change, then he or she can withdraw funds. For this, he needs to fill PF form 13 or the composite claim form.
  • If the employee is physically disabled or a mishappening turns him or her disabled, they can withdraw funds. Physically disabled employees can make a pension claim by filling the EPF form 10C or 10D offline or the composite claim form online.
  • If the employee dies during the employment or after age 58 and completes ten years of services, then the beneficiaries can withdraw the funds from the EPF by filling the PF form 20 offline or the composite claim form online.
  • In case the employee dies after age 58 but does not hold ten years of eligible experience, then his or her beneficiary need to fill a different form for the PF claim settlement that is the EPF claim form 20 or the composite claim form for the pension fund.

Documents Required for EPF Withdrawal

In addition to fulfilling the eligibility criteria, one needs to submit certain documents in order to withdraw funds from the EPF through the PF apply online process. These are listed as follows:

  • Identity proofs such as Aadhar card, PAN card, passport and driving license
  • Address proofs such as passport, PAN card, utility bills such as water, electricity, gas and telephone
  • Bank account statement
  • Cancelled cheques with visible IFSC code and bank account number
  • Revenue stamps
  • PPF withdrawal forms such as EPF withdrawal form 31, form 10C and 10D or the composite claim form based on the type of EPF withdrawal

Limitations of EPF Withdrawal

As per the rules of EPF withdrawal, there are certain limitations on the funds that can be withdrawn from one's EPF account. The limitation on EPF is as per the reason of withdrawal such as a wedding, education, purchase of land or property, construction of a house, home loan repayment, home renovation, medical emergency, unemployment, or before retirement. The limitations on these reasons of withdrawal are stated in the table below:

Reason for Withdrawal Eligibility Criteria Withdrawal Limit
Wedding Minimum of 7 years Up to 50% of the EPF contribution
Education Minimum of 7 years Up to 50% of the EPF contribution
Purchase of land Minimum of 5 years Up to 24 times of the monthly salary plus dearness allowance
Purchase of a house Minimum of 5 years Up to 36 times of the monthly salary plus dearness allowance
Repayment of a home loan Minimum of 10 years Up to 90% of the employee and the employer’s contribution
Home renovation Minimum of 5 years Up to 12 times the monthly salary
Medical emergency Any EPF account holder irrespective of the experience Whichever is lower between 6 times of basic salary and dearness allowance or the employee’s EPF share with interest
Unemployment Any EPF account holder irrespective of the experience Up to 75% of the total EPF balance
A year before retirement 57 years of age 90% of the total EPF balance

Benefits of EPF Withdrawal Online

There are various benefits offered by the PF claim online process. The benefits of EPF withdrawal online are listed as follows:

  • Withdrawing funds through PF withdrawal process online is easy and time-saving, as the EPF withdrawal online process is simple and hassle-free.
  • EPF is a contribution made by the employee from the fund other than his or her in-hand salary. Thus, withdrawing EPF funds can help one fund their major expenses without compromising on other investments and savings, made from the in-hand salary.
  • Further, the processing time involved in the EPFO online claim is quick, as funds are transferred to the employee's bank account within 5-30 days.
  • In addition to the above, if an employee claims the EPF funds online, then he or she does not directly need the approval of the employer on a self-attested form, as in an offline process. This is because the approval is sent to the employer automatically as part of the online application process.

Thus, the above-mentioned points make it clear that online EPF withdrawal in India is a beneficial thing for all employees.

Taxation on EPF Withdrawal

EPF withdrawals allow various tax deductions for the account holder. However, no tax exemptions can be availed if the continuous service offered is less than five years. In case the EPF withdrawal is made prior to five years then the individual is eligible for a Tax deduction at source on his funds. Though there are certain exemptions to when EPF withdrawal is made before five years, and no tax is charged, these are:

  • When funds are withdrawn to fund medical emergencies
  • When the fund in the provident fund is lower than ₹ 50,000
  • When the Provident fund balance is transferred from one account to another
  • When the employer withdraws his business completely

Points to Consider Before Applying for EPF Withdrawal

Before applying for EPF withdrawal, one must be sure about certain things, as listed below:

  • Ensure that you are aware of your UAN and password so that you can withdraw or claim EPF online.
  • Also, make sure that the number registered with your EPFO account is active so that one can receive alerts and reset the password if required.
  • Stay updated with the new norms of the EPF withdrawal, for instance, the revision of retirement age to 58 from 55, the current EPF interest rate, the withdrawal limit, and tax obligations.
  • Lastly, ensure that you withdraw funds from your EPF account for the reason that is valid enough to use one's saving.

FAQs

How can I withdraw my EPF amount online?

One can withdraw EPF amount online by visiting the EPFO apply online portal. However, to withdraw the EPF amount online one is required to have their UAN that is the Universal account number linked to the KYC documents such as Aadhar or PAN. Further, follow the below-mentioned PF withdrawal online steps:

  • Log in with your UAN number and password.
  • Update your KYC details by uploading the required documents such as Aadhar card.
  • Fill in the EPF claim form such as Form 20, form 10C, or form 31.
  • Further, click on the 'claim' button under the online services tab and select the type of withdrawal.
  • Choose the 'yes' option under the certificate of the undertaking and click on 'Proceed' and fill the details like bank account number, and reason for PPF withdrawal.
  • After the successful submission of the claim application, a request for the claim is sent to the employer. As and when the employer accepts the claim request, the withdrawal fund is transferred to the claimant's bank account.

Can I withdraw my EPF before five years?

Yes, you can withdraw funds from your EPF before completing five years of service. However if EPFO members claim or withdraw funds before five years have a tax obligation, and thus, TDS is deducted from one's funds.

Can I make premature withdrawals?

Yes, premature withdrawals can be made from one's EPF account in case of certain situations like marriage, education, medical emergencies, unemployment purchase of land or property, home renovations and for home loan repayments. Premature withdrawals can be of three types, Final settlement of PF, partial withdrawal and pension withdrawal.

What is VPF Withdrawal?

VPF withdrawal is the withdrawal made by the VPF account holder form his VPF account. VPF full form is voluntary provident fund wherein the employee contributes funds out of his own will. VPF's withdrawal can be made in the middle of the year by salaried employees who are enrolled under the EPFO.

How much PF can I withdraw?

As per the current update by the Government of India, one can withdraw funds from their PF account that is equal to three months of dearness or basic allowance or up to 75% of the balance in the EPF account. The amount lower amongst these two can be withdrawn by the EPF account holder.

How much time PF online withdrawal takes?

The online withdrawal of EPF can take around 5-30 days to get deposited in the account holder's bank account. The EPFO online application is automatically sent to the employer, thus, the sooner the employer approves of it, the sooner the money is transferred to the employees account.

Can I withdraw my PF without resigning?

Yes, you can withdraw the funds from your EPF account without resigning. However, it is better if the funds are withdrawn after the completion of five years, as withdrawing prior to five years of service can attract TDS deduction. However, taxation on EPF withdrawal can be exempted if funds are withdrawn after five years.

Can I withdraw full PF amount?

If the PF withdrawal is made during the employment of an employee, the amount of fund that can be withdrawn depends upon the reason for which it is done. For instance, one can withdraw up to 75% in case of job loss and upto 50% of EPF balance for education. However, withdrawals upto 90% can be made if withdrawals are made at 57 years of age or a year before retirement.

Can I increase my EPF contributions?

Though the EPF contributions cannot directly be increased in the EPF account, yet, to increase the contributions, one can deliberately contribute funds in the VPF account that is the Voluntary Provident Fund. While EPF allows contributions up to 12% of one's basic salary, VPF account allows one to contribute up to 100% of the basic salary.


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