Want to withdraw your PF amount? Here’s an easy guide

CHENNAI: The Employee Provident Fund (EPF) or Provident Fund (PF) is a mandatory retirement savings scheme to which an employee should contribute 12% of their basic pay each month.

This savings account will be maintained by the Employee Provident Fund Organisation (EPFO) to assist the employee with financial security after retirement.

The amount accumulated will be given to the employee after retirement or to their family in case of the employee's demise.

Here is a step-by-guide to withdrawing your PF money:

Key requirements:

Universal Account Number (UAN): Your UAN must be activated.

KYC details: Ensure your Know Your Customer (KYC) details (Aadhaar, PAN, and Bank Account with IFSC code) are linked and verified with your UAN. Your mobile number used for UAN activation should be active for OTP verification.

Bank Account: Your bank account details, including the account number and IFSC code, must be correctly seeded with your UAN. You no longer need to upload a cancelled cheque or bank passbook image for online claims.

Date of Joining and Leaving: These dates should be accurately recorded in the EPFO database.

Unemployment Period (for full withdrawal before retirement): Generally, a waiting period of at least two months after leaving employment is required for a full withdrawal.

Types of PF Withdrawal and Their Eligibility

1. Complete Withdrawal

Eligibility:

Retirement: The full accumulated fund can be withdrawn upon retirement

Unemployment: 75% of the PF money can be withdrawn if the person is unemployed for 1 month. After two months of unemployment, 100% of the PF money can be withdrawn.

2. Partial Withdrawal

Partial withdrawal of the PF money can be made only for specific, valid reasons provided by the employee.

a) For medical emergencies – 6 times the monthly basic pay will be given with regard to the employee’s contribution to his PF savings.

b) For marriage – Upto 50% of the employee’s PF share can be withdrawn, only if the employee has served for 7 years.

c) For education – 50% of the PF savings will be given with the criteria being 7-year service period

d) For loan for house or land purchase - 36 times the monthly basic pay will be given if the employee has completed 10 years of service.

Steps for PF money withdrawal:

For Online Application

i. Log in: Visit the EPFO portal www.epfindia.gov.in and log in using your Universal Account Number (UAN).

ii. Check: Ensure that your Aadhar, bank details, and PAN card number are linked and verified in the portal.

iii. Navigate: Go to “Online Services” and select the tab “Claim (form 31, 19, 10C, 10D)”.

iv. Verify: Enter the last 4 digits of your bank account number that is linked with PF account and click “verify”.

v. Proceed: Click on “Proceed for Online Claim”

vi. Choose the claim type: Partial withdrawal/ Complete withdrawal

vii. Specify: Give a specific, appropriate reason for withdrawal of PF money

viii. Upload: Attach the required documents (the required documents are mentioned below in the last segment of this page)

ix. Submit: Enter your current house address and submit the form.

x. OTP Verification: An OTP will be sent to the contact number linked with the Aadhar. Verify it for the process to proceed.

xi. Track the status: EPFO will accept the claim and the status can be tracked in the portal.

For Physical Application

i. Download form: Download the required withdrawal form (form 31/ form 19/ form 10C) from the EPFO portal - www.epfindia.gov.in

ii. Fill details: Enter all details asked in the form

iii. Attach documents: Attach a copy of the required documents (the required documents are mentioned below).

iv. Submit: Submit the form to the nearest regional EPFO office.

Documents required for smooth proceedings

• Universal Account Number (UAN)

• Aadhaar Card

• PAN Card/ Voter ID/ Passport

• Marriage certificates/ Medical certificates (only if applicable)

• Education fee receipt/ home loan documents (in case of partial withdrawal)

• Cancelled Cheque

Key Improvements made for EPFO withdrawal:

Simplified documentation: Submitting a cancelled cheque or bank passbook image is now eliminated for online withdrawal claims.

Independent bank verification: Employer approval is no longer required for verifying bank account details.

Streamlined bank account updates: Members can now change their linked bank account online by providing the new account number and IFSC code, authenticated via Aadhaar OTP.

Accelerated claim processing: Removing document uploads and employer verification will reduce processing time and avoid rejections due to document quality issues.

Additionally, the Employees' Provident Fund Organisation is working on a new feature that will allow members to withdraw PF money through UPI. Soon, EPF subscribers will be able to get their funds directly into their bank accounts using apps like Paytm, Google Pay, and PhonePe.

As per reports, the EPFO withdrawal facility through UPI is likely to be implemented by May or June this year. Withdrawing PF money will become faster and smoother, with UPI integration, thereby benefitting countless EPFO members.