Guide to fill the Online Application for PF Withdrawal
Before we get into the process of PF withdrawal, let us first look at the rules and regulation that surround PF withdrawal.
The total PF balance includes the employee’s contribution as well as the employer’s contribution, including the accumulated interest. In addition to this, an individual is also eligible to get the Employees’ Pension Scheme (EPS) amount depending on the years of service.
If an individual wants to do a complete PF amount withdrawal, he/she should have attained the age of 58 and retired from working any job. This is in accordance to the EPF Act. Any person can also withdraw his/her PF amount before the age of 58 if they are unemployed for a period of 60 days straight.
An important point you need to remember before withdrawing your PF amount is that after you discontinue your employment from any organization your PF account will still remain active. The PF balance on the date of leaving will continue to remain Tax-free however, the interest earned on the balance thereafter will be taxable.
An important point you need to remember is that after you discontinue your employment from any organization your PF account still remains active. The PF balance on the date of leaving will continue to remain Tax-free however, the interest earned on the balance thereafter will be taxable.
Owning an Aadhaar card makes the online PF withdrawal process simpler and easy Let’s look at how to withdraw your PF using your Aadhar card.
To do an online PF withdrawal you’ll need:
- UAN and password
- Aadhaar number
- Bank account details
- PAN number
Follow these steps to make an Online PF Withdrawal:
- Visit the EPFO member portal at website https://unifiedportal-mem.epfindia.gov.in/memberinterface/
- Enter your UAN and password to log in.
- Enter the Captcha
- Then click on the ‘Manage’ tab and chose KYC so you can check if your Aadhaar number, PAN and bank details are correct.
- After you’ve verified your details, click on ‘Online Services’ and select ‘Claim’ This will display your KYC information
- Under the tab ‘I want to apply for,’ choose the claim you require on the provident fund withdrawal form. You can choose PF Settlement, PF part withdrawal (loan/advance) or EPS withdrawal. remember the options displayed here will depend on your eligibility.
- Click on ‘Proceed For Online Claim’
Please also note you will need to verify the online PF claim using a One Time Password (OTP) that you will receive on your mobile number linked to your UAN. Once this is done your would have complete the Online PF withdrawal process successfully.
PF was an initiative started by the government to provide some sort of protection to employees. It will work as a source of income when you retire or become unemployed. This is why is it advisable not to withdraw your PF amount before retirement.