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The Government of India initiated the Employee Provident Fund for the benefit of salaried people. According to the Employee Provident Fund Act of 1952, the employee and the employer must contribute a certain amount to the PF account monthly. The corpus built in this account over the working years of a person’s life help to sustain the financial requirements post-retirement. The entire process of PF withdrawal has now been simplified through the Universal Account Number of UAN login at the EPFO e-SEWA online portal.
Here is a guide for you to learn how to do PF withdrawal online in 5 simple steps.
The table below shows the main reasons for which people withdraw their PF amount:
|Reason for Withdrawal
|PF Withdrawal Limit
|One Year of Retirement
|The maximum withdrawal limit is 90% of the EPF amount
|Minimum age 55
Marriage of Son, Daughter, Brother, Sister, or Self/ Post Matric-Education of Children
|The maximum withdrawal limit is 50% of the PF amount
|At least 84 months of service
|The maximum withdrawal limit is 36 months of the basic salary along with DA or the total cost of the house or the total employee and employer share along with the interest
|At least 60 months of service
|Medical Necessity/ Closure of the Factory/ Natural Calamity
|The maximum limit is 6 months of the employee’s basic salary along with the DA or the whole contribution
|No requirement for minimum service tenure
No matter what your reason for withdrawing the PF amount online is, you must be aware of the requirements for the same. For PF withdrawal online you will need the following:
Here is the step-by-step explanation of PF withdrawal online:
Step 1 – PF Withdrawal Login: Visit the e-SEWA portal of EPFO and do the UAN loginby entering the UAN, password, and CAPTCHA code.
Step 2 – Online Claims Section: Once logged in, you can go under the ‘online services’ section and search for ‘Form 31, 19, 10C and 10D’.
Step 3 – Fill in the Bank Account Details: Enter the bank account number for verification under this section.
Step 4 – Accept the Terms and Conditions: After the verification of the bank details, also check the Terms & Conditions mentioned by the EPFO on the site. Confirm the same by clicking on ‘Proceed for Online Claim’.
Step 5 – Select the Withdrawal Reason: Scroll down the dropdown menu to select your reason for PF withdrawal.
Step 6 – Upload the Documents: After selecting your reason for PF withdrawal, enter the details asked on the page and upload the passbook details if opting for ‘Advance Claim’. Get the OTP for verification after accepting the ‘Terms & Conditions’.
Step 7 – Get the AADHAR OTP: Upon confirming your details and accepting the Terms & Conditions, request an OTP. This OTP will be sent to your AADHAR-linked registered mobile number. Enter the OTP received and submit your EPF claim application.
You just learned the steps for PF online withdrawal. You can check the EPF Claim Status by going to the “Track Claim Status’ section on the e-SEWA portal. Remember that once you have submitted the claim application, the officials of EPFO will verify your details and the records against your online claim form. Once the details are verified, your PF amount will get credited to the bank account that is linked with your Universal Account Number or UAN, and you will see this UAN claim statusonline on the same portal.
Those thinking to withdraw some amount from their PF online should first check the new EPF Withdrawal Rules 2023:
Employee Provident Fund is a powerful tool to save money for retirement. One can also get tax benefits on the PF amount, provided one withdraws it only after 5 continuous years of service. If you withdraw money within the first 5 years of a service period, the tax will be deducted at source on the amount withdrawn from the PF account.
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According to Employee Provident Fund Act 1952, a person can withdraw the entire PF amount only after retirement at the age of 58 years.
The maximum withdrawal limit for PF Form 31 is 90% of the corpus in the EPF account.
A person can withdraw his/ her PF amount after retirement. Those who retire before 55 years of age cannot withdraw the entire PF corpus. There is also a provision through which a person can withdraw 90% of the PF corpus 1 year before retirement.
To withdraw your PF amount offline, you must visit the EPFO office where you have your PF account and submit a duly filled Form 19.
After submitting a withdrawal application, it will take approximately 15- 20 days for the amount to get credited to your bank account linked with your UAN.
If there is no fund contributed to your PF account for consecutive 3 years after leaving an organization, the account will stop earning any interest.
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