EPF Form 10C – Benefits, Eligibility & Documents

EPF Form 10C is used to request a reimbursement of the employer share, the withdrawal benefit, and the scheme certificate for membership retention. An Employees’ pension fund (EPF) or Employers’ Pension Scheme is a retirement plan that EPFO enfranchises for employees working in organized sectors. Both the employer and employee contribute to EPF during a person’s employment period at that company.

UAN – This unique number is assigned to each member of EPFO. It consists of 12 digits.

An EPF certificate gives information about the employee’s employment, including the service period and the family members that will be able to benefit from the scheme in the event of death.

Individuals can choose to continue their work after they retire from a company. You can either transfer the company to your next one or withdraw it. In case of withdrawal, the person must file EPF Form 10C. 

Filling EPF Form 10C  

Online and offline filings of Form 10C are possible. These are the steps to take to submit the online form. For more information, visit the official website of Employees’ Provident Fund or EPF.

Step 1: Scroll to the Employers Portal tab, and click it.

Step 2: Enter your UAN number in the username section.

Step 3: Choose the tab “Online Services”, from the menu bar at top.

Step 4 Select ‘Form 10C’ from the dropdown menu.

Step 5: Verify your employment, KYC and member details on this page.

Step 6: To verify your bank account, enter the last 4 digits.

Step 7: I agree to the terms of the “Certificate of Undertaking”.

Step 8: Scroll to the bottom of this page, click on “I want to Apply for” and then select the position you wish to apply for.

“Only Pension Withdrawal Form 10C”

Step 9: After entering your address, click the “Get Aadhaar Opt” button.

Step 10: After you have submitted your form, an OTP will be sent to you. Click the “Validate OTP” button and then click on the “Submit Claim Form” option.

Once the completion of the EPF Form 10C for EPF withdrawal is done, you will be notified by SMS. Within a few days, the accumulated amount will be transferred into your registered bank account.

EPF 10C Form’s Benefits

Three sets of members are available to avail the benefits who meet certain eligibility criteria. 

The eligibility criteria for member type 1 are as follows:

1. Before completing ten years of service, an individual quits his job.
2. A person turns 58 after completing 10 years of military service.

These are the benefits available to such members:

• A scheme certificate is available to anyone who meets both of these criteria.

• After completing Form 10D, an individual who meets the ‘b” criteria can receive a reduced pension.

The Eligibility Criteria to be a Member Type 3 is:

If the individual is a legal heir, nominee or executor of a deceased member, the person must be over 58 years old without having completed 10 years of service.

These members enjoy the following benefits:

After completing EPF Form 10C, the individual can withdraw his or her benefits.

After completing Form 10D, any member who has retired from service because of a bodily impairment can also withdraw his EPS under a disability pension.

Members Type 2 will receive a Scheme Certificate. It also offers certain benefits. These benefits include:

• It serves as proof of the employee’s years of service.
  
• If the individual cannot find work after retirement, they can apply for EPF withdrawal via Form 10C.
  
• If the member is not able to live with their family, or their legal representative, they can withdraw the funds from the EPS account.

What are the contents in the EPF form 10C?

• Name of the member who wants to make the claim.

• DOB.

• Name of Father.

• Name of Husband (if applicable).

• Name and address of the company in which a member worked before retiring.

• Region code, establishment codes of previous companies and individual PF account numbers.

• Date of joining in an earlier establishment.

• Reason for leaving the service and date.

• Full address of the person who is claiming.

• Confirmation that the applicant will accept a scheme certification instead of benefits of withdrawal.

• If applicable, family details of the spouse and children as well as legal heirs or nominees.

• If a member has died, the date of death and the name of the applicant along with their relationship to the deceased member are required.

• Preferred mode of remittance: You can send money by post, by cheque, or electronically.

Procedures for Attestation for EPF Form 10C

Depending on the circumstances, the EPF Form 10C must be attested by the employer or both employers and employees. These cases are:

1. If an individual applies using a form obtained from a center, it must be attested by the employer of the previous establishment.  
2. Both the employees and employers must attest that the person has completed the EPF 10C online.  
3. If the former establishment is closed, the following officials may attest to the form: Magistrate; Secretary of District Local Board Chairman or Secretary; Gazetted Officer; Manager of Bank relevant to individual’s savings account.

Documents required during the application process of EPF Form 10C

The following documents must be presented by applicants to the application process –

• Photograph of a canceled or blank cheque
• In the case of a scheme certificate application, birth certificate of the child of the member.  
• If the legal heir to a deceased member applies, death and succession certificate should be produced.  
• An EPF Form 10C form must be accompanied by a revenue stamp of Rs 1.

To summarize

EPF is a good option for investors looking for fixed returns. These schemes have a low rate of return. However, investments in commercial and residential real estate can provide significant gains in a short time!

For higher returns, individuals can put their valuable money into real estate as it is a highly reliable form of investment. Platforms like Assetmonk make it easier to invest in real estate and also offer innovative investment options like fractional ownership.