© IE Online Media Services Pvt Ltd
Tags:
Journalism of Courage
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.
The following documents are required to withdraw the PF amount:
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.
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:
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:
