The Employee Provident Fund (EPF) is a social security scheme designed to provide financial security and retirement benefits to employees in India. As an EPF member, you have the option to withdraw your funds or transfer them when certain circumstances arise. In this article, we will guide you through the process of EPF withdrawal, PF Withdrawal Form and transfer, ensuring you understand the necessary steps involved.
#1: EPF Withdrawal Process
- Eligibility: EPF withdrawal is allowed under various circumstances, including retirement, resignation, unemployment for a specific period, or in the case of serious illness. Before proceeding with the withdrawal process, ensure that you meet the eligibility criteria set by the EPFO.
- Obtain and Fill the Withdrawal Form: Visit the official website of the Employee Provident Fund Organization (EPFO) or request the EPF withdrawal form, commonly known as Form 19, from your employer. Fill out the form with accurate information regarding your personal details, employment history, and EPF account details.
- Prepare Supporting Documents: Gather the necessary supporting documents required for EPF withdrawal. These typically include your bank account details, PAN card, Aadhaar card, canceled cheque, and Form 15G/15H (if applicable). Ensure all documents are in order and up to date.
- Submit the Form to Your Employer: Submit the filled EPF withdrawal form and supporting documents to your employer. They will verify the information provided, attest the form, and forward it to the EPFO for further processing. Make sure to retain a copy of the submitted form for your records.
- Processing and Fund Crediting: The EPFO will review your withdrawal application and process it accordingly. Once approved, the EPF withdrawal amount will be credited to your registered bank account. It is advisable to regularly check the status of your application through the EPFO portal or by contacting your employer.
#2: EPF Transfer Process
- UAN Activation: Ensure that your Universal Account Number (UAN) is activated and linked to your KYC details such as Aadhaar, PAN, and bank account. This step is crucial for a smooth EPF transfer process.
- Fill the Transfer Claim Form: Complete Form 13, the EPF transfer claim form. You can obtain this form from the EPFO website or submit it online through the member portal. Provide accurate details of your previous and current employers, along with your UAN and EPF account numbers.
- Submit the Form: Submit the filled transfer claim form to your previous employer for verification and attestation. They will then forward it to the EPFO for further processing. Ensure that the form is properly filled and signed before submission.
- Transfer of Funds: Upon receiving the transfer claim form, the EPFO will initiate the transfer of your EPF balance from the previous employer’s trust to the new employer’s trust or to your individual EPF account linked to your UAN. The process may take some time, so it’s important to regularly check the status of the transfer through the EPFO portal.
#3: PF Withdrawal Form
| Form | Purpose |
|---|---|
| Form 2 | Nomination for the EPF and Employees’ Pension Scheme (EPS) |
| Form 5 | Registration form for new employees for EPS and EPF |
| Form 5(IF) | Employees’ Deposit Linked Insurance (EDLI) scheme claim form |
| Form 10C | EPS withdrawal |
| Form 10D | To apply for a pension after retirement |
| Form 11 | Automatic transfer of EPF |
| Form 14 | LIC Policy |
| Form 15G | To save Tax Deducted at Source (TDS) for any interest that is generated from EPF |
| Form 19 | Settlement of EPF |
| Form 20 | EPF settlement in case of employee’s death |
| Form 31 | Withdrawal of EPF |
Apply For EPF Withdrawal Online on UAN Portal
To initiate a PF withdrawal, follow these steps:
- Go to the UAN portal and log in with your UAN and password.
- Check your KYC details under the ‘Manage’ tab in the ‘KYC‘ section.
- Click on the ‘Online Services‘ tab and choose ‘Claim (Form-31, 19 10C & 10D)’.
- Enter your bank account number and confirm it.
- Sign the certificate of undertaking and continue.
- Click on ‘Proceed for Online Claim’.
- Select the type of claim you want, such as full EPF settlement, EPF part withdrawal, or pension withdrawal.
- Select ‘PF Advance (Form 31)‘ if you want to withdraw funds and provide the reason, amount, and your address.
- Submit the application by checking the certificate box.
- If necessary, scan any required documents and upload them.
After submission, your application will be verified and approved by your employer. The EPFO will then process and validate the claim. Once approved, the EPFO will transfer the funds to your registered bank account, which typically takes 10-15 days. You can track the status of your claim on the UAN portal by logging in, selecting ‘Track Claim Status’ under the ‘Online Services’ tab, and entering the required details. Once the funds are credited, you will receive a notification from the EPFO, and you can verify the amount in your bank statement.
Conclusion
EPF withdrawal and transfer processes are essential aspects of managing your provident fund account. Whether you need to withdraw funds in times of financial need or transfer your EPF balance to a new employer! following the correct procedures ensures a smooth and hassle-free experience. It is advisable to stay updated with the latest guidelines provided by the EPFO and consult your employer! or the official EPFO website for accurate information regarding EPF withdrawal and transfer.
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