EPF Withdrawal: A Guide to Forms and Processes

EPF Withdrawal: A Guide to Forms and Processes

The Employees' Provident Fund (EPF) serves as a social security net for Indian citizens employed in the formal sector. Throughout their employment, both the employee and their employer contribute a specific percentage of the employee's salary to this scheme. The accumulated funds are then accessible to the employee upon retirement.

To access these funds, you'll need to utilize the appropriate PF withdrawal form.

Understanding the Different PF Withdrawal Forms

• EPF Form 19 (Settlement Claim): This form facilitates the complete withdrawal of your EPF corpus. You can utilize it upon retirement or after being unemployed for two months or more.
• EPF Form 31 (Advance Withdrawal): This form enables partial withdrawal of funds from your EPF account. Partial withdrawals are permissible only in specific situations, such as medical emergencies, pursuing higher education, house renovation, or marriage.
• EPF Form 10C (EPS Withdrawal for Members Below 10 Years of Service): This form allows members who haven't completed ten years of service to withdraw their Employee Pension Scheme (EPS) funds while retaining their EPF membership benefits.
• EPF Form 10D (Pension Withdrawal): This form is used to apply for a monthly pension upon retirement. It's applicable to individuals who have fulfilled the minimum service requirement of ten years.
• EPF Form 11 (Transfer of PF Account): This form facilitates the seamless transfer of your EPF balance when switching jobs. It streamlines the process by informing the EPFO of your new employment status and enabling the transfer of funds from your previous account.
• EPF Form 14 (Loan for Insurance Premium): This form allows you to utilize your EPF corpus to pay premiums for your Life Insurance Corporation (LIC) policy.
• EPF Form 15G (Declaration for Tax Exemption): This form is submitted to claim exemption from Tax Deducted at Source (TDS) on withdrawals made before completing five years of service with your current employer.
• EPF Form 15H (Declaration for Senior Citizen Tax Exemption): Senior citizens can submit this form along with Form 15G to avoid TDS on interest earned on their EPF balance.
• EPF Form 2 (Nomination): This form allows you to designate a nominee who will be entitled to claim your EPF balance in case of your unfortunate demise.
• EPF Form 20 (Claim Settlement for Deceased Employee): This form is used by the nominee or legal heir of a deceased employee to claim the final settlement of the EPF account.
• EPF Form 5(IF) (EDLI Claim): In the event of an employee's death while employed, their legal heir or nominee can utilize this form to claim insurance benefits offered under the Employees' Deposit Linked Insurance (EDLI) scheme.

EPF Withdrawal Eligibility

The eligibility criteria for EPF withdrawal vary depending on the type of withdrawal and the reason for it. Here's a general overview:

• Complete Withdrawal: You are eligible for a complete withdrawal upon retirement or after remaining unemployed for two months or more.
• Partial Withdrawal: Partial withdrawals are permitted for specific reasons like medical emergencies, house purchase or construction, higher education, or marriage. However, specific conditions and limitations apply to each reason.
• Pension Withdrawal: To be eligible for a monthly pension, you must have completed a minimum service period of ten years in the formal sector.

EPF Withdrawal Online Application

1.       Visit UAN Member Portal: https://unifiedportal-mem.epfindia.gov.in/.

2.       Login with your UAN and password (ensure KYC is linked).

3.       Go to "Online Services" and select "Claim".

4.       Verify bank account and choose claim type (full, partial, pension).

5.       Provide details for advance withdrawal (if applicable).

6.       Submit application and upload supporting documents (if required).

7.       Track claim status after employer approval (usually 15-20 days).