Procedure for Withdrawing EPF Employees' Provident Fund: Online and Offline Methods

Welcome! The Employees' Provident Fund (EPF) is a mandatory savings and retirement fund established for eligible employees, managed by the Employees Provident Fund Organisation (EPFO).

EPF Overview and Interest Rates

The EPF offers a fixed interest rate of 8.15% for the financial year 2022-23, with a slight increase of 0.05% compared to the previous year's rate of 8.10% for FY 2021-22. Every month, employees must contribute 12% of their basic salary to the fund. Employers are expected to match this contribution and deposit it into the employees' PF accounts. These funds accumulate interest annually.

When Can You Withdraw EPF Funds?

The entire accumulated amount can be withdrawn from an EPF account upon retirement. Additionally, employees may be eligible for premature withdrawals under specific circumstances. These situations include:

Resignation and unemployment Permanent migratory employment from India Trade Union Duty Higher education Invalidation of employment Permanent total disability

How to Make a Withdrawal Request

Withdrawal requests can be made using two methods: offline and online.

Offline Method

To withdraw EPF balances, you can download the new Composite Claim Form, either Aadhaar or non-Aadhaar, based on your situation:

If your Aadhaar and bank details are linked on the UAN portal and your UAN is activated, use the Composite Claim Form Aadhaar. Submit it directly to your jurisdictional EPFO office without your employer's attestation. If your Aadhaar and bank details are not linked on the UAN portal, use the Composite Claim Form non-Aadhaar. Fill out the form and ensure your employer attests to it. Submit the completed form and employer's attestation to your respective EPFO office.

Online Method

To apply for EPF withdrawal through the EPF portal, you need to meet certain conditions:

Conditions for Online Withdrawal

Your Universal Account Number (UAN) must be activated, and the mobile number used for UAN activation must be working. Your UAN should be linked with your KYC (Know Your Customer) details, including Aadhaar, PAN, bank details, and IFSC code.

Steps to Follow for Online Withdrawal

Visit the UAN portal. Login using your UAN and password. Enter the captcha and click the Sign In button. Under the Manage tab, click on the KYC option to check the status of your KYC, whether it's verified or not. Once your KYC details are verified, go to the Online Services tab and choose Claim Form-31 19 10C 10D from the drop-down menu. Enter your bank account number and click on Verify. Sign the certificate of undertaking and proceed. Tap on Proceed for Online Claim. Under the 'I Want To Apply For' section, select the type of withdrawal: Full EPF settlement, EPF part withdrawal, loan/advance, or pension withdrawal. Select PF Advance Form 31 to withdraw your funds. Provide the purpose of the advance, the required amount, and your address. Submit your application and await your employer's approval. After approval, the funds will be transferred to your registered bank account within 15-20 days.

Conclusion

By following these procedures, employees can effectively withdraw funds from their EPF accounts according to legal and regulatory requirements. Whether choosing the offline or online method, the key is to ensure all documentation is accurately completed and submitted.

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