Employee’s Provident Fund Scheme/EPFO/PF withdrawals
Employee’s Provident Fund Scheme is a social security scheme. You contribute towards this scheme during your employment period. You (the employee) contribute at least 12% of your basic salary towards the scheme. Your employer also contributes some amount towards your EPF which combinedly is known as ‘EPF corpus’.
This scheme is managed by the Employee’s Provident Fund Organization (EPFO). EPFO is responsible for online transfers, claims, and withdrawals. Initially, the employees had to undergo the tedious process of withdrawing and transferring PF since the employees received new member Id with new employment. But with the advent of Universal Account Number (UAN), the process has been simplified to a great extent. UAN acts as an umbrella account to which all your PF accounts can be linked. With this, you can easily file claims for online transfer or PF withdrawal. You can also check for KYC details attached to your account.
PF withdrawals become a necessity when you are planning your retirement or leaving your job and taking a break. You might also need your EPF funds for unavoidable situations. For all these purposes, it is imperative that you know how to withdraw your funds and what are the requirements. Read the content below to know about PF withdrawals.
Step 1: Open the EPFO website or click on the link
Step 2: Under the services tab, click on “for employees.”
Step 3: Click on the “Member UAN” link to access the UAN portal.
Step 4: Fill in your UAN ID, password and captcha displayed on the screen to sign in
Step 5: Once you have successfully logged in, you will see your profile on the screen. Click on KYC under the “Manage” tab
Step 6: Once you get redirected to the page, check your KYC details by scrolling down to the "Digitally Approved KYC" section at the bottom of the page. Make sure all of the information is correct.
Step 7: If all of the KYC details are accurate, click the "Online Service" link from the top menu to proceed with the withdrawal. From the drop-down menu, select "CLAIM (FORM-31, 19, and 10C)."
Step 8: On the next screen, you will be prompted to input and validate the last four digits of your registered bank account number.
Step 9: Click “Yes” on the certificate pop-up to proceed.
Step 10: On the next page, select the "PF ADVANCE (FORM - 31)" option from the drop-down menu next to the "I wish to apply for" option for online fund withdrawal.
Frequently Asked Questions
Q- How long does the withdrawal process usually take?
The time required for withdrawal usually depends upon the mode of withdrawal. The process will be faster and easier if your KYC details are verified. If you have applied for withdrawal via online means, the process will take a maximum of 10 days. If you have applied via offline means, you will receive your PF withdrawals within 20 days.
Q- What are the withdrawal rules issued by the EPFO?
Some of the basic withdrawal rules issued by the EPFO are:
- If your retirement is due in a year, you can withdraw 90% of the funds from the EPF corpus given that you are at least 54 years old.
- If you are unemployed for 1 month, you can withdraw 75% of the corpus funds. The remaining amount can be transferred to your EPF account.
- If you are withdrawing before 5 years of continuous employment, then your withdrawal will be subject to tax.
Q- Can PF be withdrawn during employment?
Full PF withdrawals are not permitted during employment. During employment, you can only file for partial withdrawals and the reasons should be listed and approved by the EPFO.
Q- How can I check the status of my PF withdrawal online?
To check the status of your PF withdrawals, follow the steps mentioned below:
- Go to the EPFO portal by clicking on the link mentioned below: https://www.epfindia.gov.in/site_en/
- Select options in the order mentioned: Our services >> For Employee’s >> Know your PF status
- This will take you to another screen where you will have to put in your credentials to check your PF status. Fill in your UAN and captcha and then click on ‘search’.
- You will be asked to fill in your PF account number, your establishment code, state of your PF office, and PF office from the dropdown menu on the next step.
- Submit the information and the status of your PF account will be displayed on the screen.
Q- How can I check my PF balance via SMS?
Ans. To check your PF balance via SMS, drop an SMS to 7738299899 in the format mentioned below:
Type ‘EPFOHO UAN’ and send it to the number mentioned above.
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