PF Withdrawal

The Provident Fund (PF) is one of the fundamental saving instruments developed to help an individual save for his/her own future requirements. That is why it is extremely required to know the procedure of PF withdrawal in case you need cash early. Irrespective of the reasons for which you want to withdraw your cash from the PF pool whether it is a change in jobs or retirement or anything else—for instance, a personal crisis that compels you to take cash out of your own pool of provident funds this guide to PF withdrawal has everything.

How to Withdraw PF Amount: The Basics

Getting a refund of your accumulated PF balance is not complicated if you do it right.

• Eligibility for PF Withdrawal: Bear in mind that before you start your research, you need to ensure that you qualify for participation in this research. Generally, you can withdraw your PF balance when:

1. You leave your job.
2. You retire from service.
3. You are out of job for over two months.

• PF Withdrawal Login: In order to start the process, you must first access the EPFO (Employees’ Provident Fund Organisation) login page . This can be accomplished by going to the PF withdrawal online portal and entering with your UAN id and password.

How to Withdraw PF Online: Step-by-Step Process

If you are looking to withdraw your PF online, follow these steps:

• Login to the EPFO Portal: Visit EPFO portal using URL (https://www.epfindia.gov.in) and then find the option of UAN member portal. UAN and password are required to be entered to log in to the website.

• Verify KYC Details: It is a must to update all the KYC details like Aadhar Card, PAN Card, and Bank details with the trading brokers. It makes the withdrawal procedures extremely convenient in having the fastest withdrawal time.

• Select the Withdrawal Option: After the user has … Select the ‘Online Services’ tab and select the ‘Claim (Form-31, 19, 10C & 10D)’ tab.

• Choose Withdrawal Type: The following are the scenarios that may compel your choice for withdrawing your PF balance fully or partially as follows; Transferring of the pension fund is also applicable for individuals who are withdrawing their funds fully.

• Fill in the Form: It is now compulsory to complete the PF withdrawal form online. This form is created once you make a selection among those presented to you. Fill all the required fields.

• Submit the Claim: When you complete the claim form, your details will be checked by EPFO. The amount you withdraw will be debited to your account after you have submitted the request. Then the amount shall be remitted to the account which you own.

PF Withdrawal Rules: What You Need to Know

• Partial Withdrawal: You can opt for partial withdrawal in case of specific emergencies like medical treatment, home purchase, or education.

• Withdrawal Timing: PF withdrawal time typically takes 15 to 20 days, provided all your details are correct and up to date.

• Tax on Withdrawal: If you withdraw your PF before completing 5 years of continuous service, it may be subject to tax. However, if the withdrawal is after 5 years, no tax will be levied.

• Form 15G for PF Withdrawal: If your provident fund is below the taxable amount, you need to file Form 15G to avoid Taxes Deducted At Source (TDS) on it. This form will ensure that no taxes are deducted from your provident fund.

1. Form 15G for PF Withdrawal PDF: You can download the Form 15G PDF from the EPFO website and submit it while withdrawing your PF amount.

How to Withdraw Money from PF Account

In case you are thinking about how to withdraw money from a PF account then it’s quite simple to do it online from the EPFO site. But in some scenarios, it becomes compulsory to fill the PF withdrawal form physically in the separate annex where the passbook is generated and you don’t have an Aadhaar card linked with your UAN.

PF Withdrawal Status: How to Track Your Claim

• Logging into the EPFO portal.

• Through the use of the ‘Online Services’ tab especially the ‘Track Claim Status’.

In this tab, you will be able to check the status of whether your request has already been answered, is being answered, or has already been denied.

Common Queries About PF Withdrawal

• How to Withdraw PF Amount through Online Option? Members can withdraw their PF amount very conveniently through the online option by following this process: EPFO portal for withdrawal request.

• PF Withdrawal Time: Usually, in the situation regarding PF withdrawal, the time taken is 15-20 days from the date the details of yours are verified, but it may take longer according to EPFO.

• Do You Know How You Can Withdraw Funds From PF on Resignation? If you have resigned from your job, then for withdrawal from PF, you can apply for withdrawal through online process only. This needs to be done and ensured that your UAN has been activated along with KYC updation.

Conclusion

It is easier to get your PF balance withdrawn now as the facility to withdraw PF online is now available. The following are the different details that you need to examine so as to easily access the provident fund balance; First of all is to follow the proper procedure and also ensure that your information is up to date. It could be for some personal reasons or a professional reason like a change of jobs or even retirement.

If you are in a situation where you need to withdraw PF and you are eligible for it, then you have to ensure you submit Form 15G and keep checking your PF withdrawal status online.

Disclaimer

The information provided in this blog is purely for general informational purposes only. While every effort has been made to ensure the accuracy, reliability and completeness of the content presented, we make no representations or warranties of any kind, express or implied, for the same. 

We expressly disclaim any and all liability for any loss, damage or injury arising from or in connection with the use of or reliance on this information. This includes, but is not limited to, any direct, indirect, incidental, consequential or punitive damage.

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.