Employee’s Provident Fund EPF withdrawal is usually required in different activities in the life circle like when one changes a job, and when one plans to retire in the nearest future.

Eligibility for PF Withdrawal

You can withdraw your PF amount under some circumstances: 

• Job Change: You have a situation where you have switched your job, and you don’t wish to transfer your PF to the new company.

• Retirement: Aged 58 years.

• Permanent Disability: In the case of permanent disability, severe illness or work related injury.

• Death: In the event that the member dies, the nominee is able to take out the money.

• Other Circumstances: Pre55 withdrawals are also permissible only for certain reasons including purchase of a first home, marriage, education or for a severe illness.

Steps to Withdraw PF Amount

• Check Your UAN: You need to know your Universal Account Number as this is now mandatory to access your EPF account online.

• Activate Your UAN: If you have not activated your UAN till date, it is easily done on the EPFO portal, given your UAN and mobile number registered with your EPF account.

• Visit the EPFO Portal : The best place to access all details related to EPFO is their official website available at EPF India website https://www.epfindia.gov.in/

• Login to Your Account:

1. It is located at the bottom of the homepage’s Services section and labeled “For Employees”.

2. Go to "Member UAN/Online Services."

3. Log in using your UAN and password.

• Select the Withdrawal Option: Once you have successfully logged in the EPFO Member Portal, click on the tab ‘Online Services.”

1. Claim Form: Select ‘Claim (Form 31, 19, 10C)’ from the drop-down menu.

• Verify Details:

1. Your PF account details will be displayed. Click on "Proceed for Online Claim."

2. Choose the type of claim you want to make (full or partial withdrawal).

• Fill Out the Form:

1. Complete the online claim form.

2. You’ll need to provide details like your bank account number and IFSC code for fund transfer.

• Submit Your Claim:

1. Enter all the fields and send in your claim.

2. The OTP will be sent to the registered mobile number in SMS for verification purposes.

• Track Your Claim Status:

1. One can also track Claim Status through the EPFO portal under the option of “Online Services” in the tab “Track Claim Status”.

Important Points to Note

• Tax Implications: Of course, one can withdraw before the age of 55, but to do so, you might have to pay taxes on it – if you have not served more than 5 years in a row. Consequently, if the years of service with a particular employer is more than five years, then amount withdrawn is tax free.

• Withdrawal Timeline: The withdrawals usually take anything between 15 and 30 days, depending on the verification procedures to be followed.

• Documents Required: You may be required to upload proofs such as cancelled cheque or bank statement for some reasons.

• Nominee Details: Ensure your nominee details are well updated in your EPF account because this will facilitate processing of claims when the member dies.

Conclusion

It is incredibly easy to withdraw your EPF amount if you go through all the process of it and make sure that every detail inputted into the form is accurate. About your EPF it is very important for you to monitor it constantly and keep your records changed or updated from time to time so that every thing will be under good control for managing your retirement shares. In case of any difficulty, please feel free to contact for support through EPFO customer support.

Disclaimer

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Further, we reserve the right to make changes to the content at any time without prior notice. For specific advice tailored to your situation, we request you to get in touch with us.