EPF Withdrawal: How to Fill PF Form & Get Claim Online
You must submit the EPF withdrawal form, together with your Aadhaar and PAN, to claim your EPF sum. Certain requirements must be met to get an EPF withdrawal. Continue reading to learn about the requirements, online method for EPF withdrawal and EPF claim status.
EPF can be withdrawn in part or whole. When a person retires or is out of work exceeding 2 months, he or she is entitled to a full withdrawal. Partial EPF withdrawal is permitted in specific conditions, such as medical expenses, marriage, house loan repayment, and so on. Fill out the EPF withdrawal form online to lodge a withdrawal claim. You can, however, use the online withdrawal claim feature if your Aadhaar is connected to your UAN. Continue reading to learn all you need to know about the EPF withdrawal process.
Online EPF Withdrawal Procedure
To withdraw EPF online, you must first ensure that your UAN is activated and linked to your KYC (Aadhaar, bank info, and PAN). If you fulfill this requirement, you can withdraw your EPF online via the steps outlined below.
Also, read PF or EPF Withdrawal Rules 2022.
- Step 1: Put your UAN plus Password for the UAN Member Portal.
- Step 2: From the top menu bar, pick ‘Online Services’ and then ‘Claim Form-31, 19,10C & 10D via the options dropdown.
- Step 3: Screen will display Member Details. Put in the last 4 digits of your bank a/c and press Verify.
- Step 4: Select ‘Yes’ for signing the undertaking certificate and continue.
- Step 5: Select the ‘Proceed for Online Claim’ option.
- Step 6- For withdrawal of your cash electronically, select ‘PF Advance Form 31.
- Step 7 – There will be a new part of the form in which you must pick the ‘Purpose for which advance is necessary,’ the required amount, and the address of the employee. Any alternative for which employees do not meet for withdrawal will be highlighted in red.
- Step 8: Before submitting your application, check the certification box.
- Step 9 – Based on the reason for which you have filled the forms, you may get required to send scanned documents.
- Step 10 – Employers must take your request for withdrawal prior to the funds getting removed from the account EPF and put them into the account in the bank specified on the withdrawal forms.
SMS will get issued to the registered EPFO cellphone number. Money will get paid to the A/c in the bank once the claim gets processed. Although no explicit time restriction has been set by the EPFO, funds are normally credited between 15 days to 20 days.
Offline Procedure for EPF Withdrawal?
For withdrawal of your PF, go to the nearest office of EFPO and fill out Composite Claim Forms. Aadhaar or Non Composite Claim Forms are accessible. The Aadhaar Composite Claim Forms do not need any certification from the employers. But, the Non-Aadhaar Composite Claim Forms must get certified by your employers before submission to the EPFO office.
Eligibility Requirements for EPF Withdrawal?
Employees must satisfy the below to qualify for EPF withdrawal:
- Only a person retires, the complete money of the EPF can be withdrawn. EPFO considers early retirement only if individuals have reached 55.
- Only in case of medical emergencies, home building or acquisition, or further education is withdrawn partially of EPF authorization.
- EPFO enables a 90 percent withdrawal one year before they retire.
- If employees get retrenched or get laid off occurs before they retire, the corpus of EP might be withdrawn.
- One month after unemployment, 75 percent of the entire amount can get withdrawn. After acquiring employment, the remainder will be remitted to the fresh account of EPF.
- Employees require not to obtain permission from their employers for withdrawal of their EPF. They can receive permission online via the attachment of their Aadhar and UAN to their EPF accounts.
- The following are needed when online filing your claim: A working UAN number, Bank info connected to PAN, UAN, and Aadhar info planted into the EPF data.
Required Documents for EPF Withdrawal?
For the application of PF withdrawal, the following documentation is required:
- Composite Claim Forms
- 2 revenue stamp/s
- Bank a/c statement (The bank a/c shall primarily be in the name of PF holders while they are alive).
- Identity verification
- Address verification
- One cancelled and blank cheque containing the account number and the code for IFSC plainly visible
- Personal info like the father’s DOB, name and so on should correspond to the identity evidences exactly.
When employees withdraw their PF money prior to 5 years of uninterrupted employment, they must complete ITR Form 2 and ITR Form 3 for a thorough breakdown of the entire amount put in the PF account every single year.
Rules For EPF Withdrawal: When To Withdraw?
For withdrawal of the corpus from EPF, employees must meet the below rules
Amount for Withdrawal
Construction of house
Employees with uninterrupted five-year
The withdrawal amount gets restricted to 24x the salary per month for purchase or 36x the salary per month for construction and purchase or both
Just PF account holder and his spouse can withdraw
Withdraw an amount equivalent to the share of the employee + interest, or 6x his wage for the month (the lesser amount)
The holder of PF account, his parents, children, or spouse can file for an application of withdrawal.
Home loan repayment
Employees with uninterrupted three-year
90 percent of the total amount is available for withdrawal.
Just PF account holders and their spouses can file a withdrawal application
For Home Renovation
Employees with uninterrupted five-year
service from the completion date of constructing the home
A maximum of 12x monthly wage can get withdrawn.
Just PF account holders and their spouse can file a withdrawal application
Employees with uninterrupted seven-year
Withdrawal of 50 percent of the contribution of employees plus interest
PF account holder, children, and siblings can apply for withdrawal
EPF Withdrawal Cap?
Purpose For EPF Withdrawal
Limit For EPF Withdrawal
Minimum amount of the entire corpus or 6x times the salary per month
50 percent of the contribution of PF
House Loan Repayment
90 percent the corpus of EPF
12x the wage per month
Total Balance of EPF
No Labour Participation
75 percent after the first month and 25 percent after the second month of unemployment
The Perks of Online EPF Withdrawal
Online EPF withdrawal claim offers several advantages, as indicated below:
- Zero Hassle- The EPF online claim for withdrawal procedure saves you the visitation trouble to the PF office and waiting in long lines.
- Online claims are processed and reimbursed to your account in the bank 15 days to 20 days after submission.
- Persons who have relocated to a fresh place since the effort of shipping papers or traveling great distances is saved
EPF Withdrawal Taxation
The corpus from an EPF withdrawal is tax-free, but only under specific criteria, which are as follows:
Scenario for EPF Withdrawal
Employees withdraws exceeding Rs. 50,000/- from EPF prior to completing five years of uninterrupted service
10 percent TDS if employees furnish his PAN
If no PAN card gets furnished, 30 percent TDS + tax applicable
Incase employees furnish Form 15G/H, zero TDS gets deducted.
Employees withdraw the amount of EPF after completing five years of interrupted service
Zero TDS. These withdrawals = 100% tax-exempt
Employees want to transfer funds from a PF account to NPS or National Pension Scheme
Other relevant considerations regarding the taxability of EPF withdrawals
- If there is a gap in the 5-year term, the EPF amount is taxable; in such instance, the full amount is taxed.
- If their entire income is not taxable, employees must complete Form 15H/15G as a declaration.
- If an employee claimed Section 80C exemption on EPF contributions in past years, they will be required to pay tax on employee contributions, employer contributions, and interest on each deposit. But, if they did not claim it the preceding year, the employee contribution portion will be tax-free.
- His wage will determine the employee’s tax liability in the year of withdrawal.
Check the Status of an EPF Claim.
EPF withdrawals are available through the UAN member portal. Before checking in to make an online withdrawal, the members should first register their UAN. The site may also move funds from one PF account to another. This site may also do other online services such as eKYC, contact data updating, and so on.
The EPF member site allows you to check your EPF withdrawal status online. To track claim status, log in to the portal online and go to the ‘Online Services area. To check the status, you will not need to input any reference numbers; it will be shown on the screen instantly.
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EPF Withdrawal: How to Fill PF Form & Get Claim Online FAQs
Individuals can utilize the offline withdrawal form to obtain EPF benefits.
Individuals must update their PAN information if they do not want an extra tax deducted from their EPF account. If one withdraws more than Rs.50,000, there may be a massive tax deducted at source (TDS) of up to 34.6% if PAN data are not updated.