EPF Withdrawal Online - Steps to Withdraw, Forms, Eligibility

EPF Withdrawal Online - Steps to Withdraw, Forms, Eligibility

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

The Employees’ Provident Fund (EPF) stands as a mandatory savings scheme under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952, initiated by the Government of India. Designed to offer a lump sum to salaried individuals for their post-retirement needs, the EPF Withdrawal Online process brings convenience and ease. This article guides you through the seamless steps of EPF withdrawal online.

How to Apply for EPF Withdrawal Online:

To embark on the EPF withdrawal journey online, ensure that your Universal Account Number (UAN) is activated, and the associated mobile number is in working order. Additionally, complete KYC verification and link your bank account with the IFSC code to proceed with the application. The withdrawal process can be initiated in three ways:

  1. Online Application Submission:

    • Visit the official EPFO portal.

    • Log in using your UAN and password, authenticating with the provided captcha.

    • Navigate to the 'Manage' tab and select 'KYC' to verify your details.

    • Choose 'Online Services' and then 'Claim (Form 31, 19 & 10C).'

    • Verify displayed details, input the last four digits of your registered bank account, and click 'Verify.'

    • Proceed by selecting 'Yes' for the online certificate of undertaking.

    • Choose the type of EPF withdrawal (Full EPF Settlement, EPF Part Withdrawal, or Pension Withdrawal).

    • Select the purpose for the advance and enter the required amount.

    • Upload necessary scanned documents, with employer approval needed for completion.

    • The EPF withdrawal amount is expected to be credited to your bank account within 15-20 days.

  2. EPF Withdrawal through App:

    • Utilize the Unified Mobile App for New Governance (UMANG) for a convenient mobile withdrawal process.

    • Follow the simplified online application process within the app.

  3. Withdrawal by Submitting a Physical Application:

    • Download the new composite claim form from the official EPFO portal.

    • Fill and submit the form to the respective jurisdictional EPFO office.

    • Self-attested documents and employer attestation are required for submission.

EPF Withdrawal Eligibility Criteria:

  1. Complete EPF Withdrawal:

    • When an individual retires.

    • When an individual is unemployed for more than two months.

  2. Partial EPF Withdrawal:

    • Allowed during emergencies like medical needs, house purchase, construction, marriage, and higher education.

    • Withdrawal limit depends on the reason.

Documents Required for EPF Withdrawal Online:

Ensure you have the following documents for a successful EPF withdrawal online:

  • 2 revenue stamps

  • Valid bank account statement

  • Aadhaar Card

  • PAN Card

  • Voter ID Card

  • Cancelled blank cheque with visible bank account number and IFSC code.

Tax Liabilities on the Withdrawal Amount:

  • TDS of 10% is applicable if PAN is furnished during withdrawal without completing 5 years of employment.

  • TDS of 34.6% is applicable in the absence of PAN.

  • Individuals with less than Rs. 50,000 in their EPF accounts are exempt from TDS.

Conclusion:

Embrace the ease of online EPF withdrawal, saving time and bypassing employer attestation. The process simplifies claims and contributes to faster fund transfers. Leverage the digital route for hassle-free EPF withdrawals, making your financial journey smoother. Explore the potential of online EPF withdrawal for a seamless and efficient experience.

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

The Employees’ Provident Fund (EPF) stands as a mandatory savings scheme under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952, initiated by the Government of India. Designed to offer a lump sum to salaried individuals for their post-retirement needs, the EPF Withdrawal Online process brings convenience and ease. This article guides you through the seamless steps of EPF withdrawal online.

How to Apply for EPF Withdrawal Online:

To embark on the EPF withdrawal journey online, ensure that your Universal Account Number (UAN) is activated, and the associated mobile number is in working order. Additionally, complete KYC verification and link your bank account with the IFSC code to proceed with the application. The withdrawal process can be initiated in three ways:

  1. Online Application Submission:

    • Visit the official EPFO portal.

    • Log in using your UAN and password, authenticating with the provided captcha.

    • Navigate to the 'Manage' tab and select 'KYC' to verify your details.

    • Choose 'Online Services' and then 'Claim (Form 31, 19 & 10C).'

    • Verify displayed details, input the last four digits of your registered bank account, and click 'Verify.'

    • Proceed by selecting 'Yes' for the online certificate of undertaking.

    • Choose the type of EPF withdrawal (Full EPF Settlement, EPF Part Withdrawal, or Pension Withdrawal).

    • Select the purpose for the advance and enter the required amount.

    • Upload necessary scanned documents, with employer approval needed for completion.

    • The EPF withdrawal amount is expected to be credited to your bank account within 15-20 days.

  2. EPF Withdrawal through App:

    • Utilize the Unified Mobile App for New Governance (UMANG) for a convenient mobile withdrawal process.

    • Follow the simplified online application process within the app.

  3. Withdrawal by Submitting a Physical Application:

    • Download the new composite claim form from the official EPFO portal.

    • Fill and submit the form to the respective jurisdictional EPFO office.

    • Self-attested documents and employer attestation are required for submission.

EPF Withdrawal Eligibility Criteria:

  1. Complete EPF Withdrawal:

    • When an individual retires.

    • When an individual is unemployed for more than two months.

  2. Partial EPF Withdrawal:

    • Allowed during emergencies like medical needs, house purchase, construction, marriage, and higher education.

    • Withdrawal limit depends on the reason.

Documents Required for EPF Withdrawal Online:

Ensure you have the following documents for a successful EPF withdrawal online:

  • 2 revenue stamps

  • Valid bank account statement

  • Aadhaar Card

  • PAN Card

  • Voter ID Card

  • Cancelled blank cheque with visible bank account number and IFSC code.

Tax Liabilities on the Withdrawal Amount:

  • TDS of 10% is applicable if PAN is furnished during withdrawal without completing 5 years of employment.

  • TDS of 34.6% is applicable in the absence of PAN.

  • Individuals with less than Rs. 50,000 in their EPF accounts are exempt from TDS.

Conclusion:

Embrace the ease of online EPF withdrawal, saving time and bypassing employer attestation. The process simplifies claims and contributes to faster fund transfers. Leverage the digital route for hassle-free EPF withdrawals, making your financial journey smoother. Explore the potential of online EPF withdrawal for a seamless and efficient experience.

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