Employees Provident Fund Organisation (EPFO) website suggests accountholders to wait for some time to get a new job and transfer their PF money to a new account with the new employer. In case you fail to get a new job, you should apply for withdrawal before the end of the 36-month period from leaving the last job as no interest will be paid after 36 months and the account will become inoperative.
“You can also wait for some time to get a new job and then you can get your PF Account transferred to the new Account. However, in case of not getting the job, apply for the settlement before 36 months from leaving the last job as no interest will be paid after 36 months and the account will become inoperative,” the EPFO says on its website.
Claim forms for final settlement of PF account
Age below 50 years
In case 10 years of eligible service is completed then you can apply (in certain cases after a waiting period of 2 months) for final settlement of PF and Scheme Certificate from Pension Fund through Composite Claim For (Aadhar) and Composite Claim Form (Non-Aadhar). The EPFO says that withdrawal benefit, in this case, is not permitted since you have more than 10 years of eligible service. Only the scheme certificate will be issued.
In case you have not completed 10 years of eligible service as on the date of leaving: You can apply (in certain cases after a waiting period of 2 months) for final settlement of PF and Withdrawal Benefit/ Scheme Certificate from Pension Fund through Composite Claim For (Aadhar) and Composite Claim Form (Non-Aadhar).
The EPFO says, “You can apply for Withdrawal Benefit or Scheme Certificate through Form 10C for retaining the Pension Fund Membership. Retention of the membership will give advantage of adding any future period of membership under the Fund and attain eligible service of 10 years to get pension. The Family Pension Benefits will also be admissible in case of death of member if before 58 years of age even with less than 10 years of eligible service.”
Age above 50 years but below 58 years
If 10 years of eligible service is completed then you can apply for final settlement and scheme certificate from pension Fund through Composite Claim For (Aadhar) and Composite Claim Form (Non-Aadhar) or Reduced Pension through Form 10D.
EPFO also says that withdrawal benefit, in this case, will not be permitted as you have more than 10 Years of eligible service. Only Scheme Certificate will be issued. Also, if you opt for pension, then the same will be paid at a reduced rate from the date of leaving service or opted date or 50 years age, whichever is later.
“The pension will be calculated as admissible on completion of 58 years and will be reduced by 4% for each year backward,” it says.
If 10 years of eligible service is not completed then you can apply for final settlement and withdrawal benefit/scheme certificate from Pension Fund through Composite Claim For (Aadhar) and Composite Claim Form (Non-Aadhar).
“You can apply for Withdrawal Benefit or Scheme Certificate through Form 10C for retaining the Pension Fund Membership. Retention of the membership will give advantage of adding any future period of membership under the Fund and attain eligible service of 10 years to get pension. The Family Pension Benefits will also be admissible in case of death of member if before 58 years of age even with less than 10 years of eligible service,” EPFO says.
Age above 58 years
If 10 years of eligible service is completed then you can apply for final settlement of PF through Composite Claim For (Aadhar) and Composite Claim Form (Non-Aadhar); and for Pension through Form 10D.
If 10 years of eligible service is not completed that you can apply for final settlement and withdrawal benefit from the pension fund through Composite Claim For (Aadhar) and Composite Claim Form (Non-Aadhar).
When Can You Withdraw EPF?
One may choose to withdraw EPF entirely or partially.
Complete Withdrawal
EPF can be withdrawn entirely only under the following two circumstances:
- When an individual retires
- When an individual is unemployed for more than one month, he/she can withdraw 75% of the total accumulated amount and can withdraw the rest 25% if the unemployment period stretches beyond two months.
Individuals cannot make a complete withdrawal of EPF balance while switching employers if they don’t remain unemployed for two months or more (i.e. the interim period between changing jobs).
Partial Withdrawal
Partial withdrawal of EPF balance can be made only under certain circumstances. They are explained in the table below.
| Sl. No. | Particulars of reasons for withdrawal | Limit for withdrawal | No. of years of service required | Other conditions |
| 1 | Medical purposes | Lower of below: i. Six times the monthly basic salary, or ii. The total employee’s share plus interest, | No criteria | Medical treatment of self, spouse, children, or parents |
| 2 | Marriage | Up to 50% of employee’s share of contribution to EPF | 7 years | For the marriage of self, son/daughter, and brother/sister |
| 3 | Education | Up to 50% of employee’s share of contribution to EPF | 7 years | Either for account holder’s education or child’s education (post matriculation) |
| 4 | Purchase of land or purchase/construction of a house | For land – Up to 24 times of monthly basic salary plus dearness allowance. For house – Up to 36 times of monthly basic salary plus dearness allowance, The above limits are restricted to the total cost. | 5 years | i. The asset, i.e. land or the house, should be in the employee’s name or jointly with the spouse. ii. It can be withdrawn just once for this purpose during the entire service. iii. The construction should begin within 6 months and must be completed within 12 months from the last withdrawn instalment. |
| 5 | Home loan repayment | Least of below: i. Up to 36 times of monthly basic salary plus dearness allowance, or ii. Total corpus consisting of employer and employee’s contribution with interest, or iii. Total outstanding principal and interest on housing loan | 10 years | i. The property should be registered in the name of the employee or spouse or jointly with the spouse. ii. Withdrawal permitted subject to furnishing of requisite documents as stated by the EPFO relating to the housing loan availed. iii. The accumulation in the member’s PF account (or together with the spouse), including the interest, has to be more than Rs 20,000. |
| 6 | House renovation | Least of the below: i. Up to 12 times the monthly wages and dearness allowance, or ii. Employees contribution with interest, or Total cost. | 5 years | i. The property should be registered in the name of the employee or spouse or jointly held with the spouse ii. The facility can be availed twice: a. After 5 years of the completion of the house, b. After the 10 years of the completion of the house |
| 7 | Partial withdrawal before retirement | Up to 90% of accumulated balance with interest | Once the employee reaches 58 years and withdrawal should be before one year of retirement/superannuation (retirement fund for employees by the company) |
Here, it would be relevant to mention that the Employees’ Provident Fund Organisation has allocated UAN, i.e. the Universal Account Number compulsory for all the employees covered under the PF Act. The UAN would be linked to the employee’s EPF account. The UAN remains portable throughout an employee’s lifetime, and there is no need to apply for EPF transfer at the time of changing jobs.
Steps to Apply For EPF Withdrawal Online on UAN Portal
Step 1: Visit the UAN portal.
Step 2: Log in with your UAN and password. Enter the captcha and click on the ‘Sign In’ button.
Step 3: Click on the ‘Manage’ tab and select ‘KYC’ to check whether your KYC details such as Aadhaar, PAN and bank details are verified or not.
Step 4: Once the KYC details are verified, go to the ‘Online Services’ tab and select the option ‘Claim (Form-31, 19 10C & 10D)’ from the drop-down menu.
Step 5: The following screen will display the member details, KYC details and other service details. Enter your bank account number and click on ‘Verify’.
Step 6: Click on ‘Yes’ to sign the certificate of the undertaking and then proceed.
Step 7: Now, click on ‘Proceed for Online Claim’.
Step 8: In the claim form, select the claim you require, i.e. full EPF settlement, EPF part withdrawal (loan/advance) or pension withdrawal, under the tab ‘I Want To Apply For’. If the member is not eligible for any of the services like PF withdrawal or pension withdrawal due to the service criteria, that option will not be shown in the drop-down menu.
Step 9: Then, select ‘PF Advance (Form 31)’ to withdraw your fund. Further, provide the purpose of such advance, the amount required and the employee’s address.
Step 10: Click on the certificate and submit your application. You may be asked to submit scanned documents for the purpose you have filled the form. The employer will have to approve the withdrawal request, and then only you will receive money in your bank account. It usually takes 15-20 days to get the money credited to the bank account.
PF Customer Care Numbers
PF customer care/helpline number – 1800118005
PF missed call number for getting to know EPF details – 9966044425
PF toll-free number – 1800118005
PF balance enquiry number – SMS “EPFOHO UAN” to 7738299899
PF email – employeefeedback@epfindia.gov.in
PF Updates
The EPFO gives an interest rate of 8.1% to subscribers of the Employee Provident Fund (EPF) for 2022-23. It was the lowest interest rate since 1977-78, when the EPF interest rate was 8%.
Starting FY 21-22, interest on employee’s contribution to an EPF account above Rs 2.5 lakh during the financial year is taxable in the hands of the employee. This interest is also subject to TDS under section 194A.