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HomeBusinessProvident Fund Withdrawal: Read Rules, Steps, Details

Provident Fund Withdrawal: Read Rules, Steps, Details

It is vital to finish the KYC formalities earlier than withdrawing provident fund.

Employees Provident Fund (EPF) is a lifetime deposit which turns out to be useful throughout essential phases of 1’s life. It consists of 12 per cent of an worker’s month-to-month fundamental wage, which is deposited with the Employees Provident Fund Organisation (EPFO). The employer additionally contributes a share on this fund, which turns into a sizeable corpus over a time frame.

Employees can withdraw their PF on-line fairly simply. This will be facilitated by the member e-SEW portal of EPFO.

The staff can withdraw their full financial savings within the PF as soon as they retire. However even earlier than retirement, they’ll withdraw a partial quantity in the event that they meet sure standards.

Important Points For Withdraw Provident Fund

It is necessary to hyperlink one’s Aadhar card with the common account quantity (UAN) to deposit cash to the PF account. This will be one on-line by the EPFO web site and even by the UMANG cell app.

Completing the “Know Your Customer” or KYC formality can be vital earlier than withdrawing PF.

For KYC, PAN card is required and EPFO after finishing the method, offers the PF account a “verified” standing.

Important Steps To Withdraw Provident Fund

Visit the UAN portal at

Log in utilizing your UAN and password and enter the captcha for verification.

Now go to the ‘Online Services’ tab and choose the choice ‘Claim (Form-31, 19 & 10C)’ from the drop-down menu.

On the subsequent display screen, enter your checking account quantity and click on on ‘Verify’.

Now click on on ‘Yes’ and proceed.

After this, click on on ‘Proceed for Online Claim’.

Now within the declare type, choose the declare you require below the tab ‘I Want To Apply For’.

Select ‘PF Advance (Form 31)’ to withdraw your fund. Then present the aim of such advance, the quantity required and the worker’s deal with.

Now, click on on the certificates and submit your utility.

You could also be requested to submit scanned paperwork for the aim you’ve crammed the shape.

After the employer approves the withdrawal request, you’ll obtain cash in your checking account. It normally takes 15-20 days to get the cash credited to the checking account.

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