How to Withdraw PF Amount? Steps to Withdraw Money from EPF

Blog

EPF Account Withdrawal: A Complete Guide

null

4 Min Read    |    March 26, 2021

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.

When can EPF be Withdrawn?

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 EPF can be withdrawn completely in any of the following two conditions: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.

Eligibility Criteria to Withdraw PF Amount from EPF Account

To withdraw your PF money, you must meet the following conditions:

  1. As discussed above, you can withdraw the full PF amount only after you retire and have crossed 55 years of age.
  2. Another condition for the complete PF amount withdrawal is that you must be 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.
  3. EPFO lets you withdraw 90% of the amount one year before retirement.
  4. Partial withdrawal of EPF is allowed only if you have some medical emergencies or for higher education, or house purchase or construction.
  5. You can withdraw the EPF corpus if you are unemployed before retirement due to retrenchment or lock-down.
  6. As per the new rule, you can withdraw only 75% of the corpus after one month of unemployment. The remaining amount will be shifted to the new EPF account once you are employed.
  7. To withdraw your EPF amount, you don’t need to wait for your employer’s approval. By linking Aadhaar and UAN to your EPF account, you don’t get the approval online.
  8. While making the Online Claim, you should have the following:

a)     An active UAN number

b)     Aadhaar and PAN details seeded into EPF database

c)      Bank details linked with UAN

Documents Required for Withdrawing EPF Money

Following are the documents you must submit to the EPFO office to get your PF money:

  • Identity proof
  • Address proof
  • Two revenue stamps
  • Composite Claim Form
  • Bank Account Statement (the bank account should be only in the name of the PF holder while he/she is alive)
  • Personal information such as date of birth, father’s name, etc. must match with the identity proof clearly.
  • One blank and cancelled cheque with a clearly visible account number and an IFSC code.

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.

Procedure for EPF withdrawal from EPF Account

Broadly, the withdrawal of EPF can be done in two ways:

  1. By submitting a physical application for withdrawal
  2. Through an online application

By Submitting a Physical Application

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.

Submission of an online application for EPF Withdrawal

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.

Prerequisite for Withdrawing EPF Amount Online

To withdraw EPF online via the EPF portal, you must meet the following requirements:

  1. Your UAN is activated and your registered mobile number is in working condition.
  2. The UAN must be linked with your KYC such as the PAN, Aadhaar, and the bank details along with the IFSC code.
  3. If you meet the above criteria, then the need for the attestation of the previous employer to continue the process of withdrawing EPF money can be done away with.

Steps to Apply for EPF Withdrawal Online

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.

Universal Account Number and password

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.

choose the KYC option

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)’.

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.

Verify for PPF

Step 6: To sign the certificate of the undertaking, click on ‘Yes’ and then proceed.

Certificate of Undertaking

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.

PPF application submission


​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


Tags For Blogs : EPF Account Withdrawal: A Complete Guide

You might also like,

Company Registration In India: Complete Guide

86 people have read

How To Calculate Brokerage Fees

82 people have read

Difference Between NEFT, RTGS And IMPS

90 people have read

How To Check PF Balance: A Complete Guide

44 people have read
Whatsapp Icon

Why you should subscribe to daily WhatsApp Newsletter ?

Share Icon