EPF withdrawal online: a step-by-step tutorial
- OfferZoneDeals Team
- Nov 12, 2023
- 3 min read
Employee Provident Fund (EPF) is an important savings scheme for employees in India, which helps them build a financial safety net for their retirement. Over the years, the process of managing and withdrawing EPF accounts has evolved, becoming more accessible and convenient. In this blog, we will walk you through the online EPF withdrawal process, making it easy for you to access your hard-earned money when you need it.
What is EPF? The Employees' Provident Fund Organization (EPFO) oversees the Employees' Provident Fund (EPF), an Indian retirement savings scheme. Under this scheme, both the employer and the employee contribute a certain percentage of the employee's salary to the EPF account, which can be withdrawn on retirement or under certain specified conditions. Why online withdrawal from EPF? EPF withdrawal online offers many advantages, including:
Convenience: You can initiate the withdrawal process from the comfort of your home or office, eliminating the need for physical visits to EPFO offices.
Speed: Online withdrawals are generally processed faster than traditional methods, ensuring that you receive your funds promptly.
Transparency: The online process provides transparency and enables you to track the status of your withdrawal application.
Security: Online transactions are secure, reducing the risk of fraud or lost documents.
Steps for EPF Withdrawal Online Here's a step-by-step guide to withdraw your EPF online:
Step 1: Check Your Eligibility
Ensure that you meet the requirements for EPF withdrawal before beginning the withdrawal process. Retirement, resignation, or a medical emergency are frequently cited reasons for withdrawal. Below is a list and summary of requirements and conditions.
Step 2: Activate your UAN Your Universal Account Number (UAN) is a unique 12 digit number that acts as an identifier for your EPF account. Make sure your UAN is active and linked to your bank account, PAN and Aadhaar. You can activate your UAN on the EPFO portal.
Step 3: Open the EPFO portal and log in.
1. Visit the official EPFO website https://unifiedportal-mem.epfindia.gov.in/memberinterface/
2. Enter your UAN, password and CAPTCHA and then click on Sign in.
3. On the right side of the window, member profile details like UAN, Name, Date of Birth, Gender, Aadhaar, PAN, Bank Account Number, Mobile Number and email ID are shown. Check that all your details are correct. Also check here whether your Aadhaar and PAN are verified or not. If not verified, you will need to verify KYC details. For this just click on ‘Manage’ tab and then click on 'KYC'.
If your Aadhaar and PAN are verified then proceed to step 5.
4. There are many options given for KYC like PAN, Aadhaar, Passport, Driving License, Election Card etc. Select your document type, enter KYC details like document number and name. After this click on the Save tab. Note: Your employer must approve your documents before you can apply for withdrawal online.
5. Now, if your KYC details are verified then from the top menu bar, click on the ‘Online Services’ tab and select ‘Claim (Form-31, 19, 10C & 10D )’ from the drop-down menu.
6. ‘Member Details’ will be displayed on the screen. After entering your bank account number's last 4 digits, click 'Verify'.
7. Click on ‘Yes’ to sign the certificate of undertaking and proceed further.
8. Click on the tab ‘proceed for online claim’ to submit the claim form.
Note: While filing the online withdrawal claim, there are three options of forms:
a) Form 19 (PF withdrawal): This form, sometimes referred to as final settlement, is used to withdraw the total amount of accumulated PF.
b) Form 10C (Pension withdrawal): This form is meant to be used for pension-only withdrawals.
c) Form 31 (part PF withdrawal): A partial withdrawal request is processed using this form.
9. Click 'Select Claim Option' and Select ‘PF Advance (Form 31)’ to withdraw your funds online.
10. A fresh section of the form will open, wherein you have to select the ‘Purpose for which advance is required’, the amount required and the employee’s address.
You also have to Upload Scanned copy of cheque/passbook.
Note: Bank Account number, IFSC and name should be visible on cheque. Scanned image should be readable. In case scanned image of cheque is not readable, claim is liable to be rejected.
11. Tick on the certification checkbox.
12. Click on Get Aadhaar OTP.
13. Enter the OTP in next screen and Click on Validate OTP and Submit Claim Form and now you are done.
You will receive an SMS notification on your mobile number registered with EPFO.
Your online PF claim will be processed after EPFO receives your KYC i.e. Aadhaar information from UIDAI.
Once the claim is processed, the amount of PF will be transferred to the bank account of the employee. The money usually gets credited within 10-15 days.
Conclusion
EPF withdrawal online has simplified the process of accessing your retirement savings. By following these steps and keeping your KYC details up to date, you can smoothly initiate and track your withdrawal requests. Remember that EPF is designed to secure your financial future, so it's important to use your savings judiciously and plan for a comfortable retirement.
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