PF(Provident Fund) Withdrawal EPFO – SNEECI

In this article you will be able to gain full understanding of PF (Provident Fund) withdrawal. This post will provide PF withdrawal includes steps to withdraw funds, PF withdrawal form and an in-depth understanding of the online process for PF withdrawal.

EPF (Employees Provident Fund) is a savings plan that is mandatory created for employees that will assist them in retirement. The fund is also referred to by the name of PF (Provident Fund). According to EPF guidelines, an employee is required to contribute 12 percent of his base salary into this fund each month, and employers contributing the same amount each month. Employees can take out the whole amount they deposit into their EPF following retirement. However, early withdrawals can be allowed if certain conditions outlined in this section are satisfied.

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Formulation for Withdrawal of PF

There are a variety of forms offered in the Employees’ Provident Fund (EPF) scheme. The purpose of each form will determine the EPF form may differ. The form for funding Life Insurance Corporation (LIC) policies as well as advance of EPF amount, and the withdrawal from EPF amount are a few of the reasons why various forms will be required.

Documents Required for the PF Withdrawal Form

Most commonly required documents to withdraw your fund’s balance are:

  1. Formula 19
  2. Formula 10C, Form 10D and Form 10C.
  3. Formula 31
  4. Two revenue stamps
  5. Statements of Bank Account
  6. Identity document
  7. Address the proof
  8. A cheque that is blank and unpaid (IFSC codes and the account numbers must be clearly visible). Additionally, you must make sure that the cheque issued by you is one cheque for a single account holder only.

PF Withdrawal Process

There are two kinds of withdrawal process for PF that are available the first is an Offline process and the another is an online process.

Offline Withdrawal

You only have to download The Composite Claim Form (Aadhaar) (or (Non-Aadhaar) and then submit the completed form to withdraw the funds. To fill out filling out the form for the Composite Claim Form (Aadhaar) you’ll need your aadhaar card number as well as bank details . These information is not needed for non-aadhaar claims. After filling in the form you have to send it to the relevant local EPFO office, along with an attestation from the employer.

Online Withdrawal

Online withdrawal is better than offline withdrawal as it takes less time from employees, and is more efficient.

Here are some of the requirements that must be fulfilled to allow withdrawal of PF online through the EPF portal. They include:

  1. The Universal Account Number (UAN) is in use and the mobile phone number that is used for activating the UAN is functioning.
  2. UAN is associated with the KYC, i.e. Aadhar, PAN and Bank information along together with IFSC code.

There is no requirement for your previous employer to sign off on your request to withdraw if the these conditions are satisfied.

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How To Apply PF Online For Withdrawal In UAN Portal

There are steps to follow below to apply withdrawal of PF online,

Step 1.Visit to the UAN Portal

Step 2. Log in using the UAN as well as your password. You must enter the captcha.

Step 3.Now select ‘Manage’ and then choose ‘KYC’. You can verify your KYC details like Aadhaar, Pan, and certain Bank details to determine if they are valid or not.

step 4 Go to the Online Service tab after verifying your KYC details and select the option “Claim (Form-31, 19 and 10C) from the menu dropdown.

5.After the screen, it will show the member’s details, KYC details and other information about the service. Enter the bank account number and then click on “Verify”.

Sixth step:After that, you need to click”Yes” to sign the declaration of company, and then go on to the next step.

7. Then click “Proceed for Online Claim”

8.In claims form choose the claim you need, i.e. the full EPF settlement EPF Part withdrawal (loan/advance) or pension withdrawal under the tab “I Want to Apply for’. If the applicant isn’t eligible for any type of service such as PF withdraw or retirement due to a service requirement the option will not be listed on the menu dropdown.

9.Then when you want to cash out the funds, select the ‘PF Advance (Form 31)’. Be sure to specify the reason of the advancement, as well as the sum needed as well as the address of the employee.

The 10th step is tonow you need to click the Certificate and fill in your application. You may be required to submit scans of documents to prove that you have completed the form. The employer is then required to accept the request for withdrawal and you’ll then get money into the bank account. It typically takes between 15 and 20 days to receive the cash transferred to your bank account.

It is essential to understand “Form 19” and “Form 10C fully prior to PF withdrawing steps. The details are provided below.

Formula 19

This form permits you to take out your PF balance upon leaving your job, following retirement or even at the time of retirement. No institution or organization stop you from withdrawing funds from the balance of your Provident Fund.

The form will require you to fill in the following information:

  • Your name is on your pay slip
  • The name of your father’s or the name of your husband (married women)
  • Number of the account in the Provident Fund (pay slip)
  • The reason for leaving the previous service
  • Date at which you have left the previous service
  • Your permanent address
  • Your preferred method of remittance
  • Address and name of the establishment
  • Participation for current fiscal year

Employees may also apply for PF withdrawals using Form 19 available on the EPFO Official website. A new form is downloaded, completed and then uploaded on this site.

Form 10C

This form is used for submit claims for PF withdrawal. This form must be filled out by employees who are in the age of 50 years old i.e. less than 50 years old. This form is typically filed along with the F-19/20 form in order to be eligible for one of the following insurance plans:

  • Settlement of withdrawals under the an old Family Pension Fund
  • New Employees’ Pension Scheme (EPS 95)
  • The certificate of the scheme for membership to be kept (under the age of 58)

The form will require you to complete the following information:

  • Name of the claimant’s name
  • Marital status
  • The name and address for establishment
  • Code and Account number
  • Date of departure
  • The reason for leaving the service

Advanced Report

This happens when you select to pay of the benefit to withdraw by check.

In the year 2017, EPFO launched new EPF withdrawal forms that don’t require the signature by the employee. The forms include Form 10C UANForm 19, Form 19 UAN, and Form 31. The criteria for eligibility to be able to use these forms. This includes having an UAN which has been activated, and the person’s PAN, Aadhaar, and bank account details must be seeded to the UAN. In addition, the employer needs to confirm their KYC for the worker by using an electronic signature.

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