PF Withdrawal Online: Employer Provident Fund (EPF) also referred to as PF is instated by the government as per the Employees Provident Fund Act 1952, wherein the employer contributes a specific amount each month. As per the EPF Act employees must contribute 12% of their basic pay every month and also a matching amount is contributed by the employer.
The employees can withdraw the amount from the scheme once they retire or if he is unemployed.
75% of the EPF balance can be withdrawn after one month of unemployment and the remaining 25% can be withdrawn after two months of unemployment.
How to Apply for EPF Withdrawal Online?
The withdrawal of PF amount can be made by either of the following methods.
- By submitting Online Application
The EPF Organization has recently introduced an online submission method for withdrawal of PF amount.
To withdraw the EPF amount online through the EPF portal, the following conditions should be satisfied:
- UAN (Universal Account Number) should be activated.
- The mobile number used for activation of UAN must be in working conditions.
- UAN should be linked with Aadhar Number, PAN and Bank Account (including IFSC).
Steps for PF Withdrawal Online
Step 1: Go to UAN Portal
Step 2: Login to the portal using UAN and Password and also enter the captcha.
Step 3: To check whether your KYC details are correct or not, click on Manage tab and select KYC
Step 4: From the top menu bar, click on “Online Services” and select “Claim (Form-31, 19&10C)”.
Step 5: Then member’s details will be displayed. Under bank account column space enter the last 4 digits of your Bank Account Number and then click “Verify”.
Step 6: Click on ‘Yes’ to sign the certificate of undertaking and proceed further.
Step 7: Now click on “Proceed for Online Claim”.
Step 8: In the claim form, select the type of claim required under the tab “I want to apply for” i.e. Full EPF settlement, EPF part withdrawal or pension withdrawal. The options displayed here will be the options eligible for the member.
Step 9: Select ‘PF Advance (Form 31)’ to withdraw your funds online
Step 10: Select the ‘Purpose for which advance is required’, the amount required and the employee’s address.
Step 11: Click on the certificate and submit your application. You may be asked to submit scanned documents for the purpose you have filled the form. The employer will have to approve the withdrawal request and then only you will receive money in your bank account. It usually takes 15-20 days to get the money credited to the bank account.
- By Submitting a Physical Application
For submitting an application to withdraw physically, we should download the new composite claim (Aadhaar)/composite claim form (Non-Aadhaar) from the EPF site. The difference between these forms are the New Composite Claim form can be submitted to the respective Jurisdictional EPF organization without the attestation of the employer whereas the old Composite Form should be submitted after getting an attestation from the employer.
In case, where the employee withdraws partial EPF amount, he is required to furnish various certificate and the option of self-certification has been introduced for the EPF subscribers.
When can an Employee Withdraw the PF Amount
As mentioned earlier, EPF can be withdrawn when a person retires or when a person remains unemployed for more than 2 months. EPF amount can be withdrawn either partially or entirely. For withdrawal of EPF amount in case of unemployment, then the person should get attestation from a gazette office.
A person cannot withdraw EPF amount in between the time period of changing the jobs even though the employee is unemployed for more than 2 months while switching the jobs.
Partial Withdrawal can be made only under the following circumstances subject to certain conditions. They are:
|Reasons for Withdrawal||Limitation for withdrawal||Total No. of Years of Services Required||Other Conditions|
|Medical Reasons||Lower of employees total share plus interest or six times of the monthly basic salary||NIL||Medical expense for self, spouse, children or parents.|
|Marriage||Maximum up to 50% of employee’s share of EPF contribution||7 years||Marriage of self, Children, brother or sister|
|Education||Maximum up to 50% of employee’s share of EPF contribution||7 years||Education for Self or Children (Post matriculation)|
|Purchase of Land or House or for construction of House||For land – Up to 24 times of monthly basic salary plus dearness allowance|
For house – Up to 36 times of monthly basic salary plus dearness allowance,
Above limits are restricted to the total cost
|5 years||1. The asset should be in the name of the employee or jointly with spouse.
2. Only once the amount can be withdrawn for this reason
3. The construction should begin within 6 months and complete within 12 months.
|House Loan Repayment||Least of below: |
1. Up to 36 times of monthly basic salary plus dearness allowance
2. Total corpus consisting of employer and employee’s contribution with interest.
3. Total outstanding principal and interest on housing loan
|5 years||1. The property should be registered in the name of the employee or spouse or jointly with the spouse.
2. Withdrawal permitted subject to furnishing of requisite documents as stated by the EPFO relating to the housing loan availed.
3. The accumulation in the member’s PF account (or together with the spouse), including the interest, has to be more than Rs 20,000.
|House Renovation||1. Up to 12 times the monthly wages and dearness allowance|
2. Employees contribution with interest
Least of the above.
|5 years||1. The property should be registered in the name of the employee or spouse or jointly held with the spouse.
2. The facility can be availed twice:
a) After 5 years of the completion of the house
b) After the 10 years of the completion of the house
|Partial withdrawal before retirement||Up to 90% of accumulated balance with interest||Once the employee reaches 54 years and withdrawal should be within one year of retirement/superannuation|
- When an employee applies for withdrawal of EPF amount online, then it takes 5-30 days to get it in his bank account.
- If he applies physically i.e. offline mode it takes 20-30 days.
You can check the status of the claim of EPF amount trough the EPF portal. If the claim gets rejected it may be of the following reasons.
- If the claim is already settled.
- If the employer has not contributed the full amount.
- If a person is working in an exempted establishment, online PF application cannot be made.
- In many cases, withdrawal is liable for TDS deduction. Claim generally gets rejected in case form 15-G or PAN is not submitted.