NEW EPFO RULE
New EPF rules: EPFO relaxes mandatory uploading of cheque leaf image, attested bank passbook for these cases

Automatic PF Transfer on Job Change With the latest EPFO update, your PF balance now follows you effortlessly. Changing jobs? Your PF moves with you, automatically!

UAN: Your Financial Passport

Your Universal Account Number (UAN) is now more powerful than ever, ensuring all your EPF accounts are unified under a single umbrella for ease of access and transfer.

Benefits of the New System

No more tedious paperwork or waiting periods for PF transfers. Enjoy the freedom of mobility in your career with zero worries about your provident fund.

A Leap Towards Hassle-Free Savings

Ashish Aggarwal of Acube Ventures highlights how this reform is a step forward in empowering employees, making retirement savings secure and seamless.

EPFO’s Contribution Structure

Both you and your employer contribute 12% of your basic monthly salary to your EPF. It’s a partnership towards a secure financial future.

The Growth of EPFO Members

A whopping 16.02 lakh members joined the EPFO family in January 2024 alone. The journey towards a prosperous retirement continues to accelerate!

How UAN Facilitates PF Transfer

From automatic transfer requests to updated PF passbooks, UAN is your one-stop solution for managing your Provident Funds efficiently.

What Is Required for PF Withdrawal Online?

You may need quick access to these funds in situations such as hospitalisation, wedding or education of your child, home renovation, and repairs. Instead of taking a loan, you can withdraw funds from your PF in whole or in part. Remember that you will have to keep UAN handy to initiate the PF withdrawal process.

To withdraw your PF amount using the EPFO portal, you will need to ensure the following:

  • UAN
  • Aadhaar number must be linked and verified with UAN
  • The bank account where you want to receive the amount must be the same as the bank account registered with your Aadhaar
  • In case of any changes or modifications, you can complete the eKYC process and update your details before you submit a claim

How To Withdraw PF Amount

A. Physical Application

Download Composite Claim Form (Aadhaar/ Non- Aadhaar) to withdraw your EPF balance

1. Composite Claim Form (Aadhaar)

  • If your Aadhaar and bank details are linked on the UAN portal and your UAN is active, use the Composite Claim Form (Aadhaar).
  • You can fill and submit the form directly to the EPFO office without requiring attestation from your employer.

2. Composite Claim Form (Non-Aadhaar)

  • If your Aadhaar and bank details are not linked on the UAN portal, opt for the Composite Claim Form (Non-Aadhaar).
  • Complete the form and submit it, along with your employer’s attestation, to the EPFO office

B. Online Application

The EPFO introduced an online withdrawal option, simplifying the entire process and saves time.

  1. Prerequisites

How to Withdraw PF Amount with UAN?

You can easily withdraw your PF online through your UAN by visiting the EPFO e-SEWA portal. Here are the steps you need to follow:

  1. Log in to the portal – Visit the EPFO e-SEWA portal, log in using your UAN and password, and enter the captcha code. In case you have forgotten your password, you can reset it via an OTP sent to your registered mobile number.
  2. Visit the online claims section – When you’ve logged in, you can look for ‘claim (Form-31, 19, 10C & 10D)’ in the ‘online services’ section.
  3. Enter bank account details – Once this section opens, you will be required to enter the correct bank account number (seeded with UAN) as a verification process.
  4. Confirm terms & conditions – Once you have verified your details, you need to confirm the Terms and Conditions stated by EPFO. You can then click on ‘proceed for online claim.’
  1. Select reason for withdrawal – You will find a dropdown menu, from which you would need to choose the reason for withdrawing from your PF account. You will only be shown the options for which you are eligible.
  2. Enter details and upload documents – When you select the reason for withdrawal, you would need to enter your complete address, and you may need to upload your cheque/passbook details if you’ve chosen the option for ‘Advance Claim. You’ll need to accept further ‘Terms and Conditions’ before requesting a one-time password (OTP) for verification.
  3. Get Aadhaar OTP – Once you have confirmed your details and accepted the terms and conditions, you would need to request an OTP, which will be sent to the mobile number registered with your Aadhaar. Upon entering the OTP, your claim application will be submitted.

Once you have submitted your PF claim, you can track your claims status by logging into your member e-SEWA portal account under track claim status. The EPFO officials will match your data in their records with the data submitted in your online claim form. On completing their verification, they will process your claim application, and the amount will be credited to the bank account linked with your UAN.

Steps to Apply for EPF Withdrawal Online on UAN Portal

Applying for PF withdrawal online via the UAN portal is convenient. Follow these steps:

Step 1: Go to the UAN portal.

Step 2: Log in using your UAN and password. Enter the captcha and click on the ‘Sign In’ button.

Step 3: Select the ‘Manage’ tab and select ‘KYC’ to verify your KYC details are verified or not.

Step 4: After KYC details are verified, select ‘Online Services‘ tab and choose ‘Claim (Form-31, 19 10C & 10D)’ from the drop-down menu.

Step 5: After that, enter your bank account number and click on ‘Verify.

Step 6: Click on ‘Yes’ to sign the undertaking certificate.

Step 7: Now, click on ‘Proceed for Online Claim’.

Step 8: In the claim form, select the desired claim, such as full EPF settlement, EPF part withdrawal (loan/advance), or pension withdrawal, under the tab ‘I Want To Apply For’. If the member is ineligible for any service, it won’t appear in the drop-down menu.

Step 9: Next, choose ‘PF Advance (Form 31)’ to withdraw your fund. Provide the purpose of the withdrawal, the required amount, and the employee’s address.

Step 10: Click on the “certificate,” submit your application.

New EPF Withdrawal Rules 2024

Here are ten essential guidelines regarding EPF withdrawal:

  1. Unlike a bank account, you cannot withdraw funds from your EPF account while employed. EPF is designed for long-term retirement savings, and withdrawals are only allowed after retirement.
  2. In the case of emergencies such as medical expenses, home purchase or construction, and higher education, partial withdrawals from EPF accounts are permitted. The withdrawal limits depend on the specific reason, and account holders can apply for partial withdrawals online.
  3. Early retirement is not recognised until the individual reaches the age of 55. However, the EPFO allows a person who is at least 54 years old to withdraw 90% of their EPF savings one year before retirement.
  1. If an individual faces unemployment due to reasons like lockdown or retrenchment before retirement, they can withdraw their EPF corpus.
  2. To withdraw the EPF amount, the person must declare their unemployment.
  3. According to the new rule, the EPFO permits the withdrawal of 75% of the EPF savings after one month of unemployment. The remaining 25% can be transferred to a new EPF account once new employment is secured.
  4. Under the old rule, 100% EPF withdrawal is allowed after two months of unemployment.
  5. EPF corpus withdrawal is tax-exempt under specific conditions. Tax exemption is applicable if an employee has consistently contributed to the EPF account for five years. If there is a gap in contributions for five continuous years, the entire EPF amount becomes taxable income for that financial year.
  1. Tax is deducted at the source when withdrawing the EPF corpus prematurely. However, if the total amount is less than Rs. 50,000, no TDS is applied. It’s important to note that if an employee provides their PAN with the application, the applicable TDS rate is 10%; otherwise, it is 30% plus tax. Form 15H/15G is a declaration form stating that a person’s total income is not taxable, allowing them to avoid TDS.
  2. Employees no longer need to wait for approval from their employer for PF withdrawal. They can apply directly through the EPFO, provided their UAN and Aadhaar are linked, and the employer has given their approval. The status of EPF withdrawal can be checked online.