EPFO: Requirements From Member For Filing Online Claims
You can withdraw the PF amount completely only in two circumstances: retirement or being unemployed for two months.
The Union government runs several schemes to ensure the social security of all citizens. One such scheme is the Employees' Provident Fund scheme.
Under this, salaried employees and their employers make an equal contribution to build a retirement corpus for the employee. This is done to ensure that an employee can enjoy financial security even after retirement.
However, it is also possible that a person may need the EPF money at other stages of their lives besides retirement. There are certain situations in which it is possible to withdraw the EPF amount, completely as well as partially, even before retirement.
Below, you can find a description of the amount which can be withdrawn under different circumstances, as well as the steps for withdrawal.
You can withdraw the PF amount completely only in two circumstances: retirement or being unemployed for two months. In these two situations, you can withdraw the PF amount completely.
Here are the situations in which you can withdraw the PF amount partially:
Unemployment For Over One Month But Less Than Two Months
In this case, you can withdraw up to 75% of the PF balance.
Medical Reasons
You can make a PF withdrawal for your medical treatment as well as that of your spouse, children or parents. Under this situation, you can withdraw up to six times your monthly basic pay.
Marriage
An employee with seven years of service can withdraw up to 50% of his or her share of EPF contribution for their marriage, or the marriage of their children or a sibling.
Education
Employees with seven years of service can make a withdrawal of up to 50% of their contribution to fund their or their children’s education.
Purchase of Land Or House Construction
An employee can withdraw up to 24 times their basic salary plus dearness allowance for buying land. Similarly, he or she can withdraw up to 36 times the monthly basic salary plus dearness allowance for constructing a house. This provision is meant for employees with five years of service.
How To Withdraw PF Online?
Here are the steps for withdrawing EPF online:
Go to the EPFO portal.
Log in with your UAN, password and captcha.
Click on "Online Services" and select "Claim (Form-31, 19, 10C, & 10D)".
Verify the last four digits of the bank account.
Select "Proceed for Online Claim".
Choose the type of withdrawal you need. You can select from full withdrawal or partial withdrawal.
Specify the amount you want to withdraw and the cause for withdrawal.
According to the purpose of withdrawal, attach supporting documents.
Mention your current address and submit the claim request.
You will get an OTP on your Aadhaar-registered phone number. Enter the OTP to complete the OTP verification.
Once the claim is approved, the amount will be credited to your bank account. It can take 15 to 20 days for the fund transfer to take place.
Documents Required To Make PF Claim Online
Some of the documents required to make a PF claim online are:
Aadhaar card
PAN card
Voter ID card
Cancelled cheque
Two revenue stamps
Bank statement
There are several situations when you may feel the need to make a withdrawal from the PF account. Depending on your circumstances, you can withdraw a certain amount from the PF balance. By submitting the necessary documents to verify the cause of your withdrawal and the amount you are allowed to withdraw, you can successfully make an online claim on your PF account.
