EPFO: How To Withdraw Your PF Amount–A Step-By-Step Guide
Partial withdrawal of the EPF balance is allowed for specific purposes such as medical treatment, marriage, education, purchase or construction of a house, home loan repayment, and house renovation.
Retirement planning is a crucial but often overlooked aspect of financial management. Ensuring a steady source of income post retirement is essential for financial security. In India, one of the most preferred tools for building a retirement corpus is the Employees’ Provident Fund (EPF). Under this scheme, both the employer and the employee contribute equally, and the fund earns interest over time.
While the EPF corpus is primarily meant to be withdrawn after retirement, there are specific circumstances where you can access the funds earlier. For instance, a person can withdraw 100% of the EPF amount if they remain unemployed for two consecutive months.
Partial withdrawal of the EPF balance is allowed for specific purposes such as medical treatment, marriage (of self, son, or daughter), education, purchase or construction of a house, home loan repayment, and house renovation.
If you need to withdraw your EPF amount, you can do it by following these simple steps.
How To Withdraw PF Online?
Here are the steps for withdrawing EPF online:
Visit the EPFO portal.
Log in with your UAN, password
Click on “Online Services” and select “Claim (Form-31, 19, 10C, & 10D)”.
Check and confirm the last four digits of your bank account.
Click on “Proceed for Online Claim”.
Now you need to select the type of withdrawal you want– full, partial or pension withdrawal.
State the amount you want to withdraw and the reason for withdrawal.
Depending on the purpose of withdrawal, you need to attach supporting documents.
State your current address and submit the claim request.
You will receive an OTP on your Aadhaar-registered phone number. Enter the OTP to complete the OTP verification.
The EPFO will process your claim, and if approved, the required amount will be credited to your bank account. It can take 15 to 20 days for the fund transfer to take place.
How To Withdraw PF Offline?
For offline withdrawal, you need to visit your EPFO office and submit a Composite Claim Form. There are two types of Composite Claim Forms: Aadhaar-based and non-Aadhaar-based. If you opt for the Aadhaar-based form, you do not need employer attestation, but your Universal Account Number (UAN) and bank account must be linked with your Aadhaar. On the other hand, the non-Aadhaar-based form requires employer attestation but does not have any Aadhaar linking requirements.
