Effortless EPF Withdrawal: A Step-by-Step Online Guide

The Employees’ Provident Fund (EPF) is a crucial savings scheme established under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952. It helps salaried individuals in India prepare for post-retirement by allowing them to accumulate a substantial amount. The EPF withdrawal online process simplifies this task, offering convenience. This guide will navigate you through the steps of withdrawing EPF funds online.

How to Apply for EPF Withdrawal Online:

Before beginning the process of EPF withdrawal, ensure your Universal Account Number (UAN) is active, and your mobile number is operational. Make sure that KYC verification is complete, and link your bank account via IFSC code. You can initiate withdrawal through these methods:

1. Online Application Submission:
   • Access the official EPFO website.
   • Log in with your UAN, password, and captcha.
   • Navigate to the 'Manage' tab and select 'KYC' to confirm your details.
   • Choose 'Online Services' and click 'Claim (Form 31, 19 & 10C)'.
   • Verify the displayed details and enter the last four digits of your registered bank account, then click 'Verify.'
   • Proceed by selecting 'Yes' for the online certificate of undertaking.
   • Select the preferred EPF withdrawal type, such as Full EPF Settlement, Partial EPF Withdrawal, or Pension Withdrawal.
   • Specify the advance purpose and needed amount.
   • Submit any necessary documents and obtain employer approval for finishing the process.
   • The credited EPF withdrawal amount should reach your account within 15-20 days.
2. EPF Withdrawal via App:
   • Use the Unified Mobile App for New Governance (UMANG) to perform mobile withdrawals effortlessly.
   • Follow the straightforward online application steps within the app.
3. Physical Application Submission:
   • Download the composite claim form from EPFO's official site.
   • Complete and submit the form to the respective local EPFO office.
   • Self-attested documents and an employer's attestation are needed for submission.

EPF Withdrawal Eligibility Criteria:

1. Complete EPF Withdrawal:
   • Applicable upon retirement.
   • Valid if unemployed for over two months.
2. Partial EPF Withdrawal:
   • Permissible during emergencies for medical reasons, purchasing a house, constructing a home, marriage, and higher education.
   • The withdrawal limit is contingent on the cause.

Documents Required for EPF Withdrawal Online:

Have these documents on hand for successful EPF withdrawal online:

• Two revenue stamps
• A valid bank account statement
• Aadhaar Card
• PAN Card
• Voter ID Card
• A canceled blank cheque with a visible bank account number and IFSC code

Tax Liabilities on the Withdrawal Amount:

• A 10% TDS is levied if PAN is provided during withdrawal without 5 years of employment.
• A 34.6% TDS is applicable without a PAN card.
• Individuals with an EPF balance below Rs. 50,000 are free from TDS.

Conclusion:

Harness the ease of online EPF withdrawal to save time and eliminate the need for employer attestations. This method streamlines claims and speeds up fund transfers. Embrace digital solutions for hassle-free EPF withdrawals, making your financial journey smoother. Discover the advantages of online EPF withdrawal for an efficient and seamless experience.