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EPF Withdrawal Rules 2022

PF Withdrawal Rules & Claim Online

Last Updated 20th Jan 2022

  • EPF is a long-term retirement benefits scheme, and thus you can withdraw EPF funds after retirement.
  • As per EPFO Withdrawal Rules 2022, you may withdraw 75% of the funds after declaring unemployment before retirement.
  • EPFO also permits partial withdrawal in case of a medical emergency, home renovation and construction, repayment of home loans or wedding purposes etc.
  • You can claim EPF withdrawal by submitting Composite Compensation Form Online.
  • To claim PF online, ensure your UAN is linked with KYC documents such as Aadhaar and PAN.
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New Rules for EPF Withdrawal in 2022

EPF is a scheme that was introduced to provide salaried employees with a source of the fund once they complete their service in an organisation. However, employees can also withdraw funds from their PF accounts before retirement in special circumstances. The new PF rules 2022 related to EPF withdrawal are as follow:

  • It is not mandatory to withdraw the PF account when an employee changes the employer as the PF can be easily transferred to the new account.
  • An employee does not have to await the employer’s approval for EPFO PF withdrawal. They can withdraw funds directly from the EPFO if the UAN and Aadhaar are linked.
  • Employees are provided with an option of withdrawing 90% of the PF account after the age of 54 years.
  • If an individual is unemployed for 1 month, he can withdraw 75% of the provident fund balance and the remaining 25% after the second month of unemployment.
  • PF withdrawal within the 5 years of account opening attracts tax. However, you can get tax exemption on EPF corpus if you have contributed to your EPF accounts for a continuous period of 5 years.
  • Also, Tax is deducted at Source (TDS) at 10% in case of premature withdrawal provided the amount exceeds Rs. 50,000. The applicable TDS would be 30% if you do not provide PAN.

EPF Withdrawal Limit

The table below mentions PF withdrawal reasons and percentage for EPF maximum withdrawal limit:

ReasonsEligibilityMaximum PF Withdrawal Limit
WeddingMinimum 7 years of serviceUpto 50% of employee's share for PF holder, siblings and children.
Medical purposeNo minimum serviceUpto 6 times of basic salary or total employee's share and interest, whichever is lower for PF holder, spouse, siblings and children
Repayment of home loanMinimum 3 years of serviceUpto 90% of PF balance for PF holder and spouse
Renovation and Reconstruction of homeMinimum 5 years of service12 times of employee's monthly income for PF account holder and spouse or joint
Purchase/Construction of House Minimum 5 years of serviceUpto 90% of PF Balance
UnemploymentIf unemployment continues for 2 months 75% after 1 month and the remaining 25% after the second month
RetirementAfter the age of 55 years100%

Eligibility Criteria for PF Withdrawal

Here are some other eligibility criterias that you must fulfill for EPF withdrawal process online in different circumstances:

  • 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 PF withdrawal procedure online.
  • 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 service, 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 needs 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

Documents required for the EPF withdrawal form are as follows:

  • Forms like Form 19, Form 10C, Form 10D and Form 31
  • Identity proof
  • Address proof
  • Bank account statement
  • A blank and cancelled cheque
  • Two revenue stamps

Types of PF Withdrawals

The individuals who have subscribed to the EPFO and have their Aadhaar linked with the UAN 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 withdraw funds installments instead of lump-sum during the retirement period or the employment period.

Process to Withdraw Employees Provident Fund Online

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. You can make EPF claim online on the EPF Withdrawal Portal by following the below-mentioned steps to withdraw PF online:

  • 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.
  • Step 3: After logging in, click the 'Manage' tab and verify your KYC details like the PAN, Aadhaar and bank details.
  • 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.
  • Step 5: Enter the last four digits of the required bank account in order to verify the details, and click on 'Verify.'
  • Step 6: Tap on the 'Yes' option to 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 in the details of the form and the reason for PF 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.

Provident Fund Withdrawal via Old Form

The steps for EPF withdrawal via new form are as follow:

  • Individuals are required to contact the HR department of their previous employer and get Form 16. One can also withdraw the same from the EPFO official website
  • Then they are required to fill in all the important details asked in the form. In addition to this, they are required to submit a cancelled cheque leaf of the bank account for reference
  • A dully filled form should be submitted to the employer, the employer will attest the form and send it to the authorities for further processing.

If all the filled information is authentic and individuals are eligible for the withdrawal then the amount will be credited to the Bank account.

Provident Fund Withdrawal via New Form

If you want to withdraw funds under this method, you do not require the employer's approval. However, here are some of the prerequisites that you must know:

  • Update the Aadhaar number in the UAN portal
  • Aadhaar should be authenticated by the employer and linked to UAN
  • You are required to fill the form online at the EPF member portal

Taxation on EPF Withdrawal

Case 1: If the amount withdrawn is less than ₹ 50,000 before completion of 5 years of service, submit the duly filled form, and you will get the withdrawn amount in your bank account in a fortnight, then no TDS will be deducted. If you fall under the taxable bracket, you have to pay TDS in for EPF withdrawal.

Case 2: If the amount withdrawn is greater than ₹ 50,000 before completion of 5 years of continuous service, then TDS will be deducted at 10% if PAN is furnished; no TDS will be levied in case Form 15G/15H is submitted.

Case 3: If the withdrawal of EPF is done after 5 years of continuous service or PF is transferred or if the employee is terminated due to the employee’s ill health, no TDS will be deducted and withdrawal will be tax-exempt.

4 Points to Consider Before Applying for EPF Withdrawal

Before applying for EPF withdrawal online, here are a few things that you must consider:

  • Ensure that you are aware of your UAN and password so that you can withdraw or claim EPF online.
  • Your number registered with your EPFO account should be active so that you 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, remember that you can withdraw funds from your EPF account if you meet the criteria for EPF Withdrawal Rules 2022.

FAQs

How many times can we withdraw PF advance?

The number of times an individual can apply for the EPF withdrawal online depends on the reason you want to withdraw PF advance. As per EPFO, you can avail an early withdrawal of the PF for marriage, medical treatment, education, home loan repayment and purchase of house etc.

Can I withdraw my full PF amount before retirement?

Yes, you can withdraw the PF amount before retirement. If an individual remains unemployed for one month, then he can withdraw 75% of his EPF amount. The remaining 25% can be withdrawn if the member remains unemployed for more than two months.

Why cannot I withdraw my EPF balance while working?

EPF balance cannot be withdrawn during employment because EPF is a long-term retirement savings scheme. The money can be withdrawn only after retirement. Withdrawals are allowed only in a few cases like a medical emergency.

Is provident fund money taxable?

The contribution made to the PF by the employees’ and the employer is not taxable. However, if the employee withdraws at or after retirement the PF money is non-taxable. However, if the employee withdraws the amount before retirement the amount withdrawn is liable for the tax.

Can I get partial PF withdrawals for emergency purposes?

Yes, you can get a partial withdrawal for emergency cases. EPFO allows partial withdrawals for certain circumstances such as medical emergencies, education, marriage, home loan repayment, purchase or renovation of a house, etc provided you fulfill PF partial withdrawal rules.

How many times can we withdraw PF advance for illness?

The PF withdrawal limit for illness is upto 6 times of basic salary or total employee's share and interest, whichever is lower for illness.

Can I withdraw the full amount from EPF?

No, you cannot withdraw the full amount from EPF before retirement. However, as per EPF Withdrawal Rules, you are entitled to get 90% of your EPF corpus 1 year before you retire and to do so, your age cannot be lower than 54 years.

How much time does it take for PF online withdrawal?

The PF withdrawal processing time 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.

How to withdraw PF amount online ?

You can withdraw EPF amount online by visiting the EPFO apply online portal. However, to withdraw the EPF amount online your UAN, that is the Universal account number must be linked to the KYC documents such as Aadhaar or PAN.

How to claim PF?

You can claim EPF withdrawal by submitting Composite Compensation Form Online.To claim PF online, ensure your UAN is linked with KYC documents such as Aadhaar and PAN. EPF withdrawal time and PF withdrawal options may vary based on the type of PF money withdrawal.


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