PF withdrawal process | PF withdrawal online | Online PF Transfer : Established by the Employees’ Provident Fund Organization (EPFO), Employee Provident Fund (EPF) is a simple way for salaried individuals to save lots of money! Its primary motive is to encourage savings ( epf passbook ) for people after they retire.
Ways to PF withdrawal online
Although withdrawal of PF withdrawal online isn’t allowed while you’re still employed, there are ways to urge this amount just in case you would like it badly. you’ll make this withdrawal just in case you’ve got switched your job and don’t want to urge your PF account transferred.
Form 19 which is out there either with employers or are often downloaded from EPF website, is to be filled and submitted for withdrawing the PF amount. Once the appliance is submitted to the regional EPF Office, the PF amount alongside the interest earned is received by the applicant within three months from the date of application. Here are three alternative ways during which you’ll easily withdraw your PF sum.
Steps to PF withdrawal online
1. Apply for PF amount withdrawal via UAN: If you’ve got UAN then you’ll directly apply for pf withdrawal. you are doing not require your previous employer’s approval for getting this application processed. However, the sole challenge with this feature is that the majority employers don’t share the UAN with employees and within the absence of UAN this feature can’t be availed.
2. Submit your PF withdrawal application on to the regional PF Office: Get a PF withdrawal form, epf passbook fill it and submit an equivalent on to the Regional Provident Fund Office. This procedure requires identity attestation since the PF office would want to make certain whether the proper person is applying for withdrawal. Hence, your withdrawal form must be attested by one among the subsequently listed authorities –
- Any director
- A Gazetted Officer
- Magistrate/ Post/ Sub Post Master/ President of Village Panchayat/ Notary
Attestation by director is best when the bank is where you maintain your account. Since this direct method of application has chances of fraud so EPF office generally asks for a letter stating the rati onale for direct application. Non-cooperation from employer may be a valid reason but as long as you’ve got a symbol for that. Also, attaching a symbol of employment letter may be a plus.
Online PF Transfer Without Employer Signature
Trying to urge a signature from your previous employer are often a quite hassle if you’ve got left your job on a nasty note. Earlier, it had been mandatory for workers to possess the attestation of their employers to facilitate withdrawal.
Today, the EPFO has eased the method on realising how impractical things of getting your employer’s signature to form a withdrawal are often . The introduction of the EPFO’s member portal and therefore the UAN has eased all processes associated with EPF, including making withdrawals. There are two steps to form a PF withdrawal without your employer’s signature: the primary is with an Aadhaar card and therefore the second is without an Aadhaar card.
PF withdrawal online With an Aadhaar Card
- To ease the method, the EPFO features a withdrawal option on its member portal just by linking your Aadhaar card. By linking your Aadhaar card, no attestation from your employer is required to hold out the method.
- The Aadhaar card and salary checking account should are verified by your employer though, and therefore the details embedded within the EPFO’s member portal.
- Next step is to form sure that your UAN is activated. Having these areas covered, you’ll now start the method of creating a PF withdrawal without your employer’s signature.
- On the EPFO web portal, download the new EPF forms to form a withdrawal – Form 19, Form 31 and Form 10C.
- On these forms enter your name (as stated on your UAN, Aadhaar card and bank account), registered mobile number, address, PAN card number, the reason for leaving and date of joining.
- Form 19 UAN is for creating PF withdrawals.
- Form 10C UAN is for creating withdrawals from your pension benefits.
- Attach a cancelled cheque for the EPFO to verify your checking account number. Next, submit the shape and therefore the cancelled cheque to the closest EPF office.
- Note that your checking account number and therefore the checking account number stated in UAN database should match. Also, your details mentioned within the form should match that on the UAN database. Any discrepancies with reference to the small print could end in a disapproval to form a withdrawal from the EPFO.
PF withdrawal process online Without an Aadhaar Card
- For those that don’t have an Aadhaar card, the method of creating a withdrawal without the employer’s signature can get tedious.
- Download the forms (Form 19, Form 31 and Form 10C) from the EPFO’s member portal.
- Next, fill within the details and obtain an attestation from a reputable authority, like – a Gazetted officer, magistrate, member of the EPFO, or manager of the bank you hold your salary account with.
- Make sure that you simply get a signature or stamp on every page of your form and verified bank details.
- To avoid cases of fraud, one will need to state the reason for direct application of withdrawal. Stating ‘Non-cooperation’ from ex-employer is typically an honest enough reason.
- Attach an indemnity bond with a 100 Rupee stamp paper.
- Attach copies of your payslips, appointment letter, Form 19, and your employee ID card.
- Lastly, attach a replica of your KYC documents – identity and address proof – before submitting all the forms at the EPF office.
Conditions where the EPFO permits PF withdrawal
- 60 days of unemployment
Partial withdrawal is permitted under the subsequent circumstances
- Purchase or construction of a house
- Purchase of land
- Home renovation
- Repayment of home loans
- 12 months before retirement
With reference to partial withdrawal, the subscriber has got to complete a selected number of years of service. Moreover, there are specified amounts which will be withdrawn for each of the explanations listed by the EPFO.
Filing a withdraw my PF online claim
Withdrawal claims are often filed either online or through the submission of a physical form.
Submitting a physical form for withdraw my PF
Claims for PF withdrawal are often made through submission of a physical form. This involves downloading a Composite form (Aadhaar) from the EPFO portal, epf passbook filling it out correctly then submitting it to the respective EPFO office for approval.
If a subscriber chooses the Non-Aadhaar Composite form , the knowledge provided will need to be attested by the employer before it’s submitted to the EPF office for the document to be processed.
Submitting a Form for withdraw my PF online
Subscribers can file a withdrawal claim using his or her UAN on the EPFO portal. it’s important that the UAN has been activated and therefore the bank details and KYC documentation updated on the portal.
More often than not, the subscriber’s UAN is provided by their employer and is printed on the salary slip. If a subscriber has not been given their UAN, they will use the subsequent steps to seek out:
- Click on the tab labelled ‘Know Your UAN status’
- Fill the small print requested
- Enter the authorization PIN sent through SMS to the registered mobile number
- The UAN is shipped as an SMS to the subscriber’s mobile number
- After receiving the UAN, it must also activate it so as to be ready to use the services of the EPFO. The steps to activate your UAN are as follows:
- Visit the EPFO website and click on on the tab ‘For Employees’.
- Select the choice titled ‘Our Services’.
- Under the ‘Our Services’ section is an option ‘Member UAN/Online Services.’
- The subscriber will then be redirected to the UAN portal, where they might need to click on the choice ‘Activate your UAN’.
- The subscriber will need to fill out a form to get the authorization PIN and must enter it to activate their UAN.
- When the UAN is activated, the subscriber will receive an SMS confirming an equivalent.
- The subscriber also will receive a password to access their EPF account information through the UAN portal.
- To check epf passbook click here
Online Claim for PF Withdrawal
The steps to file a web claim for PF withdrawal are as follows:
- Login to the EPFO portal using the UAN and password.
- Verify KYC details by clicking on the ‘Manage’ tab.
- Next, visit the ‘Our Services’ tab and click on on the choice titled ‘Claim’ from the drop-down list.
- Under the section titled ‘I Want to use For’, the subscriber will then be required to settle on the sort of withdrawal claim they want to file—full withdrawal, partial withdrawal or pension withdrawal.
- The drop-down box with the kinds of withdrawal will only be displayed if the subscriber is eligible to avail it.
- The claim is then forwarded to the employer for approval. Once approved, the PF amount are going to be credited to the subscriber’s account within 10 days PF withdrawal process.
PF Joint Declaration Form
A PF joint declaration form may be a form made between the worker and his/her employer when the entire contribution towards PF is at a better rate – in other words when the entire wages exceeds the wage ceiling limit of Rs.6,500 per month. the shape is often accessed and downloaded from the EPFO’s member portal. Here are the steps required to fill the shape before submission:
- Address the shape to the regional PF commissioner.
- State your name and your employer’s name.
- Fill in your name, your father’s or husband’s name, PF account number, date of birth and lastly your date of joining and leaving.
- Next, attach a document of identification – either a replica of your Aadhaar card, PAN card, voters ID, Passport or driver’s license.
- Sign the shape. you’ll then need to get the attestation of authority and therefore the establishment seal.
PF withdrawal process | PF withdrawal online | Online PF Transfer
Get the PF withdrawal application processed through your previous employer:
Unlike the above two options, PF withdrawal also can be filed via your previous employer. Most companies will invite a duly filled withdrawal form alongside a blank check and can get your PF request processed via the EPF office. getting into touch together with your previous company’s HR manager is that the best thanks to set about this.
Why Early PF Withdrawal Isn’t an excellent Idea
PF amount may be a corpus that you simply gradually build so on ensure enough money on retirement. PF may be a great financial instrument to assist you to save a touch amount monthly which too at an excellent rate of interest of 8.75% p.a. This interest earned on your PF account is tax-free (if withdrawn after 5 years of PF account opening) To check your EPF balance then check EPF passbook. Keeping in mind of these U+0062enefits, PF amount withdrawal isn’t an excellent idea unless absolutely necessary.
In case you’re switching jobs, EPF should rather be transferred instead of withdrawn.
There are several reasons that make PF withdrawal not a really great option. a couple of reasons are listed below. for withdraw my PF online PF withdrawal process
- PF amount is supposed as your retirement corpus and will ideally not be touched before retirement. This fosters the habit of saving and makes life stress-free for employed individuals
- If you withdraw your PF amount within 5 years of opening the PF account, you’ll need to pay tax on the interest earned. Otherwise, interest on PF amounts is tax-free under section 80C of the Tax Act
- You can easily transfer your PF account to your new company just in case you turn your job
Withdrawing PF while you’re employed is really against the rulesProvident Fund may be a fund that’s made from contributions by the worker and therefore the employer for the respective period of employment. PF is an efficient financial instrument to enable you to generate enough corpus for post-retirement phase PF withdrawal process.
Generally, 12% of the essential monthly salary goes into your PF account while an equivalent amount is contributed by your employer too.