PF Withdrawal Online:- A Provident Fund (PF) is a retirement savings scheme that will provide financial security after retirement. The PF needs employer and employee contributions to the saving that will help with retirement. Generally, the contributions from the employee side are deducted from his salary every month and the employer also contributes an equal amount. These contributions can be invested in many ways like government securities, bonds, and equities to generate returns. The employee saves money in the Provident Fund throughout his life so that they can get a good amount of retirement.
PF Withdrawal Online 2023
The total amount of money is given to the employee at the time of retirement. It is required for the employee to contribute 12% of their base pay to this fund each month according to EPF regulations. It is not allowed to withdraw the PF amount before retirement but in some special cases, the PF amount can be used. The process of withdrawing the amount from the Provident Fund account is known as PF withdrawal. If any employee wants to withdraw the PF balance, then he has to fill out the necessary forms and submit them to the employer. After that, the employer will send the forms to the relevant Provident Fund authorities for processing. The entire process will generally take a few weeks, and the withdrawn amount is credited to the employee’s bank account.
PF Withdrawal 2023 Overview
| Name of the article | PF Withdrawal |
| Beneficiaries | Employees |
| Aim | To make people aware about Provident Fund Withdrawal |
| Website | https://www.epfindia.gov.in/site_en/index.php |
PF Withdrawal Types
It is necessary for an individual to become part of the EPFO and link his the Aadhar card data with the UAN. People who have completed this process is allowed for 3 kinds of PF redemptions that are PF Final Agreement, PF Partially Withdrawn and Withdrawal of Pension Benefits.
- PF Final Agreement- this is the retirement age when an individual leaves his work permanently. So, the PF can be withdrawn at this stage.
- PF Partially Withdrawn- if any tragedy happens then PF amount can be used.
- Withdrawal of Pension Benefits
Required Documents for PF Withdrawal
- The UAN (Universal Account Number).
- The name on the EPF account and bank account should be same.
- It is necessary for an employee to have a bank account as money cannot be given or sent to anyone else account.
- Identity proof
- Personal details, like the father’s name and birthdate.
Process for EPF Withdrawal
- Submit a physical application for EPF withdrawal
- The EPF withdrawal online procedure
EPF Withdrawal With a Physical Application
- Firstly, you have to visit the EPF portal and get the print of the form.
- After that fill the form by entering all asked details.
- If you are mentioning Aadhar details in the form then there is no need of employer’s attestation. If the form is without Aadhar details then attestation is needed.
- After completing the form find your jurisdictional EPFO office and submit the form at office.
Procedure for PF Withdrawal Online 2023
- Firstly, you have to go to the official website of the Employees’ Provident Fund Organization (EPFO) Portal, https://www.epfindia.gov.in/site_en/index.php
- You will reach on the homepage of the website.
- Click on the Services option on the home page.
- You will see a new page on the screen.
- Click on the Member UAN/Online Service (OCS/OTCP) option under the services option.
- You will be redirected to a new page.
- Next enter your UAN, password, and Captcha code in the space given.
- After entering details, you will be logged in to your registered account.
- Then click on the KYC option under the Manage tab.
- Again, you will see a new page on the screen.
- The go to the Digitally Approved KYC section.
- At this section you have to check all your KYC details.
- After checking the option, select the Online Service link from the top menu
- Next, click on the CLAIM (FORM-31, 19 & 10C) option
- You will see an ONLINE CLAIM (FORM 31, 19 & 10C) form on the screen.
- After that you have to enter the last 4 digits of your registered bank account number and verify it also.
- After verification of the bank account, a certificate of Undertaking will be generated.
- At last, click on the Proceed for Online Claim option on the screen.
- Next, click on the PF ADVANCE (FORM – 31) option
- Now choose a reason for the claim.
- Fill the sections for the employee’s address and the advance amount.
- After that click on the checkbox option.
- Now you have to submit your withdrawal application.
- Next upload the asked documents according to the nature of the withdrawal
- At last, the withdrawal amount will be sent to the bank account after the employer accepts the withdrawal request.
- An SMS notice will be sent to your registered mobile number after the claim gets resolved.