Under the new provision in the Employee Provident Fund Scheme 1952,
It will enable a member of the EPF, who is no longer in employment for a continuous period of one month, can withdraw 75% of the total fund standing to his or her credit in the PF account.
The subscriber will now have an option to withdraw the rest of the 25% of their funds after the completion of two months of unemployment.
Under the existing provision in the Employee Provident Fund Scheme 1952,
It was proposed that the members will allow taking 60% of funds after 1 month. But, Central Board of Trustees raised the limit to 75% in June 2018.
The EPFO members are entitled to withdraw their entire balance after two months of unemployment.
How to withdraw 75% of EPF money from PF Account
The EPFO announced that its members can now withdraw 75% of their funds after one month of unemployment and maintain their PF account with the body.
A process to withdraw 75% money from EPF account:
Step-1: Sign in to the UAN Member Portal with your UAN and Password.
Step-2: From the top menu bar, click on the "Online Services" tab and select "Claim(Form-31,19 & 10C)" from the drop-down menu.
Step-3: The next page will show Members Details, KYC Details and Service Details. Click the "Proceed for Online Claim" button.
Step-4: You will redirect to the Claims Sections. You will find more details such as PAN, Mobile Number, UAN etc. Choose the type of claim-withdraw PF only or withdraw Pension only.
Step-5: Fill out the claim form carefully. Once completed, an OTP will send to your registered mobile number enter the OTP in the form, will initiate the withdrawal claim.
When the claim form is successfully submitted, an SMS notification will send to your registered mobile number.
Once the claim has proceeded, the amount will transfer to your bank account.
At the time of filing an online withdrawal claim, you will find three options:
PF Withdrawal-Form 19
Pension Withdrawal- Form 10C
PF Advance- Form 31
Composite Claim Form
When applying for the withdrawal offline, you require to fill out the Composite Claim Form which serves the purpose of three forms:
19 - For Final PF Settlement
10C- For Pension Withdrawal
31- For Part Withdrawal of PF Amount
The composite claim form has categorized into two: Aadhaar and non-Aadhaar.
Aadhaar-Based Composite Form
The employee who is willing to submit the claim online using the Aadhaar composite claim form, their UAN needs to activate and seeded with the details of your bank account number, PAN, Aadhaar and verified by the employer.
Fill up the form and submit it online. No need of the employer's intervention for this as the EPFO will already have your details including the date of exit that requires to update by the employer monthly.
In case the details don't match this process you will need to reach out the employer.
non-Aadhaar Based Composite Form
It can be used by the employee who has not seeded Aadhaar and activated their UAN yet.
This form to have signed by you and attested by your employer.
The employer will submit this form with the EPF office. It should take about two weeks for settlement to go through.
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