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Understand the EPS scheme, contribution, withdrawal scenarios/procedure and FAQs for salaried employees with a working EPF account.

How to Withdraw PF Amount Online:  Steps, Forms & Eligibility

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"How to Withdraw PF Amount Online:  Steps, Forms & Eligibility"

Ulfath Joad

From budgeting to expenses management and everything in between

<p id="">In today's digital age, the ability to manage your finances with ease and convenience is a valuable asset. If you're wondering how to withdraw PF amount online, you're in the right place. The Employee Provident Fund (EPF) is a crucial part of your financial future, and knowing the steps, EPF withdrawal forms, and eligibility criteria for online withdrawal can empower you to take control of your funds.</p><p id="">This comprehensive guide will walk you through the entire PF withdrawal process, emphasising the key aspects of how to withdraw PF amount online, efficiently and securely. Whether you're seeking financial flexibility, considering a significant life event, or planning for the future, understanding this PF withdrawal process is essential. So, let's explore the intricacies of online PF withdrawal and pave the way to financial independence.</p><h2 id="">What Is The Employee Provident Fund (EPF)?</h2><p id="">Before we understand how to withdraw PF amount online or offline, lets go through the basics of EPF. Employers offer employee retirement benefit plans or pension schemes to their workforce. The scheme is designed for employees in the organised sector, where the employer is registered with the Employees' Provident Fund Organization (EPFO) and makes the necessary contributions. The Employee Provident Fund (EPF) is pivotal in securing retirement. The funds accumulated in this provident fund can be utilised to procure an annuity or withdrawn as a lump sum payment upon the employee's retirement.</p><p id="">To avail of the Employees' Pension Scheme (EPS) benefits, employees must work for at least 10 years. Under this scheme, the employer contributes 8.33% of the employee's salary to a maximum of Rs. 1250 towards the pension fund.</p><h2 id="">2023 Update for EPS: Additional 1.16% To Come From Employer’s Contribution</h2><p id="">Before we dive deep into how to withdraw PF amount, let’s look at the latest update for EPS in 2023.</p><ul id=""><li id="">In May 2023, the the Labour Ministry announced that employers will now contribute an extra 1.16% towards this scheme. This news is a welcome relief for many employees, as it means increased savings for their retirement.</li><li id="">Previously, the employer's contribution to the EPS was fixed at 8.33% of the employee's basic salary, capped at Rs.1,250 per month. However, with this latest announcement, the employer's contribution will rise to 9.49% of the employee's basic salary, with a maximum of Rs.1,800 per month.</li></ul><h2 id="">Start by Checking Your Employee Pension Scheme (EPS) Amount</h2><p id="">To withdraw PF amount, you need to first know how much balance is available in your EPF account. To check your EPS balance, follow these steps:</p><ol id=""><li id="">Visit the EPFO website ( <a target="_blank" rel="noopener noreferrer" href="https://www.epfindia.gov.in/site_en/index.php" id="">https://www.epfindia.gov.in/site_en/index.php </a>).</li><li id="">Navigate to the 'Services' section.</li><li id="">Choose the 'For Employees' option from the drop-down menu.</li><li id="">Click on 'Members Passbook'.</li><li id="">Log in to the page using your UAN credentials.</li><li id="">Tap on 'Passbook'.</li><li id="">Select the relevant Member ID.</li><li id="">The entire EPS amount contributed will be shown under the 'Passbook Overview' column.</li><li id="">Alternatively, you can download it in PDF format.</li></ol><h2 id="">Documents Required to Withdraw PF Amount</h2><p id="">Here are the documents required to withdraw PF amount from your account:</p><ul id=""><li id="">Government-approved ID proof</li><li id="">Address proof</li><li id="">Bank account statement</li><li id="">2 revenue stamps (not always)</li><li id="">Cancelled cheque with the relevant bank account</li><li id="">UAN Number</li></ul><h2 id="">How to Withdraw PF Amount Online?</h2><p id="">Follow the below steps to withdraw your PF amount online:</p><ol id=""><li id="">Visit the Unified Member Sewa portal and log in with your password and UAN.</li><li id="">Under the ‘Online Services’ option, select ‘Claim (Form-31, 19 10C &amp; 10D)’.</li><li id="">The member details, KYC and other service details will be displayed on the screen.</li><li id="">Enter the bank account number and click ‘Verify’.</li><li id="">Select the claim type as ‘Withdraw Pension Only.’</li><li id="">Go to the menu ‘I want to apply for’ and click ‘Only Pension Withdrawal (Form 10C).’</li><li id="">Enter the permanent address in Form 10C and tick the disclaimer section.</li><li id="">Click on ‘Get Aadhaar OTP.’ An OTP will be sent to your Aadhaar-linked mobile number.</li><li id="">Enter the OTP, click ‘Validate OTP’, and then the ‘Submit Claim Form’.</li></ol><h2 id="">How to Withdraw PF Amount Offline?</h2><p id="">Follow these steps to withdraw PF amount offline:&nbsp;Download the composite claim form (with or without Aadhaar) from the EPFO website and submit the form to the jurisdictional EPF Office post providing the details.</p><h2 id="">How Many Years of Service are Required to be Eligible for PF Withdrawal?</h2><p id="">In most cases, you can withdraw from the Employees' Provident Fund (EPF) after completing 5 years of continuous service. However, there are exceptions and special circumstances where withdrawal can be allowed before completing 5 years.</p><h2 id="">When Can You Withdraw Your Pension?</h2><p id="">Rules to withdraw your pension amount change depending on the occasion or condition of withdrawal. Given below are provisions and rules to withdraw your EPF against different conditions:</p><div id="">&nbsp;</div><h2 id="">Eligibility Criteria for Form 19 (Complete Withdrawal of PF Amount)</h2><p id="">To be eligible for the EPF withdrawal Form 19 (complete withdrawal) of the Employees' Provident Fund (EPF), you typically need to meet one of the following conditions:</p><ul id=""><li id="">Retirement: You can apply for the EPF withdrawal Form 19 if you are retiring from employment.</li><li id="">Unemployment: If you have remained unemployed for two months or more, you can apply for complete withdrawal.</li><li id="">Migration Abroad: If you are relocating to a foreign country for employment or settlement, you can apply for EPF withdrawal Form 19.</li><li id="">Medical Reasons: You can apply for a complete withdrawal in case of a serious illness.</li></ul><p id="">Please note that specific rules and conditions may vary, and checking with your EPF office for the most accurate and up-to-date information is advisable.</p><h2 id="">Eligibility Criteria for Form 10C (PF Amount Withdrawal for Service Less Than 10 Years)</h2><p id="">To be eligible for the EPF withdrawal Form 10C (withdrawal benefit for service less than 10 years) of the Employees' Provident Fund (EPF), you typically need to meet one of the following conditions:</p><ul id=""><li id="">Resignation or Termination: If you have resigned from your job or have been terminated and your service is less than 10 years.</li><li id="">Migration Abroad: If you are relocating to a foreign country for employment or settlement and your service is less than 10 years.</li><li id="">Superannuation: If you are retiring from employment, you can apply for EPF withdrawal Form 10C, irrespective of the length of service.</li></ul><p id="">Specific rules and conditions may vary, so checking with your EPF office for accurate and up-to-date information is advisable.</p><h2 id="">Criteria Under Which One Can Apply Using Form 31 (Partial PF Amount Withdrawal - Loan/Advance)</h2><p id="">You can apply for a partial withdrawal using EPF withdrawal Form 31 (Partial Withdrawal - Loan/Advance) of the Employees' Provident Fund (EPF) under the following circumstances:</p><ol id=""><li id="">Medical Treatment: To cover medical expenses for yourself, your spouse, children, and dependent parents.</li><li id="">Home Loan Repayment: To make a partial withdrawal to repay a home loan.</li><li id="">Home Renovation: To fund the renovation or alteration of your existing home.</li><li id="">Marriage Expenses: To meet the marriage expenses of yourself, your children, or siblings.</li><li id="">Education Expenses: To cover the education expenses of your children or for your further education.</li><li id="">Purchase of Land: To buy a plot of land.</li><li id="">Purchase of a House: To purchase or construct a house.</li></ol><p id="">Specific rules and conditions may vary, so it's advisable to check with your EPF office for the most accurate and up-to-date information regarding partial withdrawals using Form 31.</p><h2 id="">Conclusion</h2><p id="">The Employee Pension Scheme (EPS) ensures a source of pension for employees in the organised sector. The employer contributes to the EPS account, building a retirement corpus. Withdrawal of pension contributions is allowed under various scenarios, including completion of less than 10 years of service or reaching 50 years of age with 10 years of service. Upon reaching 58 years of age with 10 years of service, one is eligible for 100% monthly pension payouts. The PF amount withdrawal process involves filling out the appropriate EPF withdrawal form(s) online and verifying employment details.</p><h2 id="">Frequently Asked Questions</h2><h3 id="">1. Can I withdraw PF amount while working?</h3><p id="">You cannot withdraw PF amount from your EPS account while actively working. However, if you have completed less than 10 years of service but more than 6 months, you can withdraw PF amount from your EPS account — provided you are unemployed for more than 2 months. But if you have completed 10 years of service, you will only be eligible for your pension benefits after you have completed 58 years of age (or 50 years, in case you are okay with receiving a reduced pension).</p><h3 id="">2. What is the PF amount withdrawal process?</h3><p id="">Before withdrawing your pension from your EPF account, ensure all your PF accounts from your employers have been merged. You can then proceed to withdraw your pension in the following two ways -</p><h4 id="">a. Withdraw PF with Aadhaar Card</h4><ol id=""><li id=""><a target="_blank" rel="noopener noreferrer" href="https://www.adityabirlacapital.com/abc-of-money/steps-to-generate-register-and-activate-your-uan" id="">Activate your UAN </a>(Universal Account Number)</li><li id="">Fill your bank account details and your Aadhar card number on the UAN portal.</li><li id="">Submit a filled Form 11 (new) to your employer</li><li id="">Submit a filled Composite Claim Form (Aadhar) to the concerned EPFO office along with a cancelled cheque.</li></ol><h4 id="">b. Withdraw PF without Aadhaar Card</h4><ol id=""><li id="">Submit two copies of Form 15G/15H if applicable.</li><li id="">Furnish your PAN card number if the service period has been less than five years.</li><li id="">Furnish your UAN if available, if not, then submit your PF account number.</li><li id="">Submit a filled Composite Claim Form (Non-Aadhar) to the concerned EPFO office.</li></ol><h3 id="">3. Can I withdraw pension contribution?</h3><p id="">On retirement you can withdraw your pension contribution with ease. In some cases you can opt in for for an earlier withdrawal as well.</p><h3 id="">4. How to withdraw pension for a deceased person?</h3><p id="">If the claimant is either a nominee or a family member, they are required to complete the EPF withdrawal Form 20, providing the necessary information about the EPF member. This application must be routed through the last employing employer of the member. Upon submission, the claimant will receive SMS notifications confirming the approval of the claim form, and the funds will be transferred to the claimant's bank account.</p>

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