The rules of
the EPF (Employees’ Provident Fund) scheme let you withdraw money from your EPF
account for numerous reasons. You can withdraw money for any XYZ reasons you
want, such as for buying a house, car, or upon retirement after attaining the
age of 55 years, any mishappenings, home or education loan repayment, etc.
Read further to learn more about how to withdraw the PF amount from the EPF account.
You may opt for withdrawing EPF either entirely or partially. EPF can be withdrawn completely in any of the following two conditions:
a) When you retire
b) When you remain unemployed for more than two months. In this case, you must get an attestation of the same from a gazetted officer to make a withdrawal.
To withdraw your PF money, you must meet the following conditions:
As discussed above, you can withdraw the full PF amount only after you retire and have crossed 55 years of age.
a) An active UAN number
b) Aadhaar and PAN details seeded into EPF database
c) Bank details linked with UAN
Following are the documents you must submit to the EPFO office to get your PF money:
If you withdraw your PF money before 5 years of continuous employment, you are liable to facilitate ITR Forms 2 and 3 so that you can prove a detailed breakup of the complete amount deposited in the PF account every year.
Broadly, the withdrawal of EPF can be done in two ways:
By submitting a physical application for withdrawal
To submit a physical withdrawal application, you can download the new composite claim (Aadhaar)/composite claim form (Non-Aadhaar) by clicking here.
After filling out the new composite claim form (Aadhaar), you can submit it to the respective jurisdictional EPFO office without the employer’s attestation. However, you are required to fill out and submit the new composite claim form (Non-Aadhaar) with your employer’s attestation to the respective jurisdictional EPFO office.
You must note that in case of partial withdrawal of EPF amount for different circumstances, very recently, the need for furnishing several certificated has been relieved. Further, the option of self-certification has been included for the EPF subscribers.
Interestingly, the EPFO has very recently come up with the online facility of withdrawal, which has made the entire process more comfortable and less time-consuming.
To withdraw EPF online via the EPF portal, you must meet the following requirements:
Step 1: Go to the official website of UAN or the UAN portal.
Step 2: Here you need to log in with your Universal Account Number and password. Don’t forget to enter the correct captcha or you will be denied logging in.
Step 3: Now, click on the option ‘Manage’ and choose the KYC option to examine whether your KYC details such as PAN, Aadhaar, and bank details are verified and correct or not.
Step 4: Once the KYC details are verified, go to the tab ‘Online Services’ and from the drop-down menu, click the option ‘Claim (Form-31, 19 & 10C)’.
Step 5: The “Claim’ screen will appear displaying the member details, KYC info, and other service details. You need to enter the last four digits of your bank account and click on the ‘Verify’ option.
Step 6: To sign the certificate of the undertaking, click on ‘Yes’ and then proceed.
Step 7: Next, you need to click on ‘Proceed for Online claim’.
Step 8: You will be directed to a claim form where you have to select the claim you need, i.e. EPF part withdrawal (loan/advance) or pension withdrawal, full EPF settlement, under the tab ‘ I want to apply for’. In case you aren’t eligible for any of the services like a pension or PF withdrawal, the option won’t show in the drop-down list.
Step 9: To withdraw your fund, you are now required to select ‘PF Advance (Form 31)’. Further, you need to mention the amount required, the employee’s address, and the reason for withdrawing such an advance.
Step 10: When you are done with all the above steps, click on the certificate and submit your application. You may be required to submit scanned documents for the purpose you filled the form. The employer needs to approve your withdrawal request, then only you will get money in your account. Usually, the process takes 15-20 days.
I hope this blog was useful to you and that it cleared your doubts about how to withdraw the EPF amount from your PF account. Also, if you want to know about the balance in your PF account, then read out our blog on how to check PF balance.