EPFO: How To Withdraw Your PF Amount Online And Offline—A Guide

The government-backed Employees’ Provident Fund Organisation (EPFO) is responsible for managing retirement savings for employees in the private sector. It oversees provident fund contributions made by the employees and employers every month.

The Employees’ Provident Fund (EPF) scheme is aimed at providing financial security to salaried individuals in the private sector in their retirement years. The interest rate is reviewed and fixed by the government each financial year. Currently, the EPF interest rate stands at 8.25% per annum for the financial year 2024-25.

Each employee, enrolled under the EPF scheme, contributes 12% of the basic pay and dearness allowance (DA) every month to the PF account. An equal amount is also contributed by the employer. Employees earning a basic salary of up to Rs 15,000 are mandatorily required to contribute to the PF scheme.

As it’s a retirement benefit scheme, advance EPF withdrawals are generally not allowed. However, an EPF subscriber can withdraw the entire amount after remaining unemployed for at least two months. The EPFO also allows partial withdrawals under certain conditions.

The EPF subscribers can apply for partial withdrawals both online and offline. EPF advance withdrawal forms can be submitted through the Unified Member Portal of the EPFO. Withdrawal forms can also be submitted at the branch offices of the EPFO, as per the area of jurisdiction.

To streamline the EPF withdrawal system, the retirement fund body is also going to introduce a few technology-backed measures under its EPFO 3.0 initiative. The EPFO members will be able to withdraw money from their PF accounts through ATMS under the new initiative, which is expected to be rolled out soon.

1. Online EPFO portal: You need to have an activated 12-digit Universal Account Number (UAN). If the account is linked with PAN and Aadhaar card details and KYC on the portal is verified with the bank, you can submit the withdrawal request through the EPFO Member e-Sewa portal. Visit the ‘services’ section and click on ‘claims’ to proceed with your application.

2. EPFO withdrawal offline: Visit your nearest EPFO office. Pick up a ‘composite claim’ form and fill it with details based on whether your Aadhaar card is linked or not. If the Aadhaar is not linked, you will need an employer attestation before submission.

3. EPFO claim via ATM: To withdraw money using ATMs, which is expected to be rolled out soon, an EPF subscriber will need a PF withdrawal card similar to a banking transaction card used at ATMs. You will be able to withdraw a portion of the PF savings using your PIN. The withdrawal amount is likely to be capped at Rs 1 lakh by the EPFO to protect your savings against excessive expenditure.