PF Withdrawal Online Process Step-by-Step: The Provident Fund (PF) is a government-managed retirement savings scheme for employees in India. A key component of India's social security system, PF was introduced in 1952 with the enactment of the Employees’ Provident Funds and Miscellaneous Provisions Act (EPF and MP Act) by the Employees’ Provident Fund Organisation (EPFO) under the Ministry of Labour and Employment to provide financial security and stability to employees in their retirement years. Under this scheme, employees contribute a portion of their salary to the PF account, and employers match this contribution. The amount accumulated in the PF account is payable to the employee at the time of retirement or resignation or to their family in the event of the employee's death. Withdrawing from one's Provident Fund (PF) is a significant financial step for many employees in India. Here is all you need to know about the process. What documents are required to withdraw PF online? The following documents are required to withdraw the PF amount: Universal Account Number (UAN) Bank account information of the EPF subscriber Identity and address proof Cancelled check with IFSC code and account number How do I withdraw PF online with my UAN? Step 1: Access the UAN portal. Navigate to the official UAN portal to initiate the process. Step 2: Secure login: Use your UAN (Universal Account Number) and password for logging into the portal. Ensure to fill in the captcha correctly before clicking on the ‘Sign In’ button to authenticate your access. Step 3: KYC verification: After successful login, select the ‘Manage’ tab and choose ‘KYC’ from the list. This step is crucial for verifying if your KYC details, including Aadhaar, PAN, and bank information, are up-to-date and verified. Step 4: Initiate the claim process. Post KYC verification, move to the ‘Online Services’ tab. Here, you will find the option ‘Claim (Form-31, 19, 10C, and 10D)’. Select this to begin the claim process. Step 5: Verify member details. The subsequent screen will present your member details, KYC information, and other service-related details. Key in your bank account number and select ‘Verify’ to confirm the accuracy of the provided details. Step 6: Certificate of undertaking Agree to the certificate of undertaking by clicking on ‘Yes’. This is a mandatory step to proceed further. Step 7: Proceed with the online claim. Choose the ‘Proceed for Online Claim’ option to advance to the next step in the claim process. Step 8: Select claim type. Within the claim form, specify the type of claim you wish to file under the ‘I Want To Apply For’ tab. Options include full EPF settlement, EPF partial withdrawal (loan or advance), or pension withdrawal. Note: The availability of these options is contingent upon your eligibility based on service criteria. Step 9: Specify claim details. For claims like PF Advance (Form 31), indicate the purpose of the advance, the desired amount, and your current address. Step 10: Submission and documentation: Finalise your application by clicking on the certificate button. Depending on the nature of your claim, you might be prompted to upload scanned documents relevant to your application's purpose. When can we withdraw PF? Individuals can opt for either a full or partial withdrawal from their Employee Provident Fund (EPF). Full Withdrawal: A complete withdrawal from EPF is permissible under two scenarios: Retirement: when a person retires. Unemployment: If someone is jobless for over a month, they're allowed to withdraw 75% of their total EPF accumulation. If the period of unemployment extends beyond two months, the remaining 25% can also be withdrawn. It's important to note that individuals cannot withdraw their entire EPF balance when transitioning between employers unless they are unemployed for at least two months. Partial Withdrawal: EPF allows for partial withdrawals under specific conditions, outlined as follows: Medical needs: the lesser of either six times the monthly basic salary or the entire amount in the employee’s share with interest. This option is available without any service period requirement for the medical treatment of the account holder, their spouse, children, or parents. Marriage: Up to 50% of the employee’s contribution can be withdrawn after completing 7 years of service for the marriage of the account holder, their son or daughter, and their brother or sister. Education: Similarly, after 7 years of service, up to 50% of the employee’s contribution can be withdrawn for the account holder's or their child’s education post-matriculation. Land or house purchase/construction: Withdrawal limits are up to 24 times the monthly basic salary plus dearness allowance for land purchase and up to 36 times for house construction, subject to the total cost. This requires a 5-year service period, and the property must be in the name of the employee or jointly with the spouse. This withdrawal is permitted only once. Home loan repayment: the least of either 36 times the monthly basic salary plus dearness allowance, the total PF balance, or the total outstanding principal and interest, with a service requirement of 10 years. The property must be in the name of the employee or jointly with the spouse. House renovation: the lesser of either 12 times the monthly salary and dearness allowance, the employee’s contribution with interest, or the total cost after 5 years of service. The property should be in the employee's name or jointly with the spouse. This can be availed twice: after 5 and 10 years of house completion. Before retirement: Up to 90% of the total balance with interest can be withdrawn once the employee is 58 years old, provided the withdrawal occurs within one year of retirement.
