Withdrawing Funds from Your EPF Account: A Guide to EPF Form 31

Withdrawing Funds from Your EPF Account: A Guide to EPF Form 31

While the primary purpose of Employees' Provident Fund (EPF) funds is to provide financial security after retirement, there are specific circumstances that permit partial withdrawals to address certain needs. EPF Form 31 serves as the official document used to claim a partial withdrawal from your EPF account.

When Can You Withdraw from Your EPF Account?

There are strict guidelines around when you can access your EPF funds. A complete withdrawal is only allowed upon retirement from service or after two months of unemployment, certified by a government official.

For partial withdrawals, you will need to meet specific conditions. Some circumstances include:

• Education Expenses: You can withdraw up to 50% of your contributions to cover higher education costs for yourself or your children (after 10th standard) if you've been employed for at least 7 years.
• Marriage Expenses: Similar to education expenses, you can withdraw up to 50% of your contributions towards the marriage of yourself, a sibling, or your child, again with a minimum service requirement of 7 years.
• Property Purchase or Construction:
• Land Purchase: Up to 24 times your monthly wages and dearness allowance can be withdrawn.
• House Purchase/Construction: Up to 36 times your monthly wages and dearness allowance can be withdrawn. In both scenarios, you must have been employed for at least 5 years, and the property must be registered under your name, your spouse's name, or jointly.
• Home Renovation: Up to 12 times your monthly wages can be withdrawn for renovations, provided the house you're renovating is registered under your name, your spouse's name, or jointly, with a minimum service requirement of 5 years.
• Home Loan Repayment: You can withdraw a maximum of 90% of both your contributions and your employer's contributions towards your home loan, but there are several conditions:
• The property must be registered under your name, your spouse's name, or jointly.
• You must have the necessary documents from the EPFO for home loan repayment.
• The combined corpus in your and your spouse's account (if applicable) must be above Rs. 20,000.
• Before Retirement: In special circumstances, you can withdraw up to 90% of your accumulated EPF corpus with interest after reaching 57 years of age.

How to File an EPF Withdrawal Claim (Using Form 31)

There are two ways to submit a claim for a partial EPF withdrawal using Form 31:

1. Offline Submission:

• Download Form 31 from the EPFO website.
• Fill out the form completely, including your contact information, reason for withdrawal, amount requested, identity details, EPF account number, and bank account details.
• Get your employer to certify the form by filling in their designation, date, and signature.
• Submit the completed form along with any required enclosures to your local EPFO office.

2. Online Submission:

The online process is faster and more convenient. However, you'll need to meet a few requirements:

• Your UAN (Universal Account Number) must be active, and the linked mobile number must be functional.
• Your UAN must be linked to your KYC documents (Aadhaar, PAN card, etc.).

If you meet these conditions, follow these steps:

1. Log in to the UAN portal on the official EPFO website.
2. Verify your KYC details are updated and verified.
3. Go to "Online Services" tab and select "Claim Form 31."
4. Fill in the required details.
5. Accept the certificate of undertaking to proceed.
6. Choose "Proceed for Online Claim" and select the "PF withdrawal" option.
7. Select the "PF Advance Form" and provide details like the purpose of withdrawal, amount, and other necessary information.
8. Click "Submit".