As an worker operating in India, maximum companies provide Provident Fund (PF) to their employees. The PF serves as a retirement saving scheme sponsored with the aid of the authorities of India. Every month, a proportion out of your earnings is deducted towards PF, and even the organization has to position their percentage of contribution. You also earn a hard and fast interest on the full amount of cash. Now, once you stop your activity, you can switch it to the brand new business enterprise. You also can move for PF withdrawal in case you need to withdraw the cash.
Earlier, for PF withdrawal, you had been required to fill the bureaucracy and publish a hard and fast of documents. However, today, you could sincerely login to the EPFO internet site and in just a few clicks, follow for PF withdrawal. Here’s how to go about it.
Prerequisites for PF withdrawal
Before you pass in advance and apply for PF withdrawal, you want to recognise your UAN (Universal Account Number). You can get your UAN from your salary slip. Next, in case you’re doing this for the first time, you want to go to the eSewa Portal here and set off your UAN.
In order to set off your UAN, your mobile variety must additionally be connected with the UAN as you may get an OTP for authentication. Your Aadhaar number must additionally be related to the PF account. If not, then you will need to click on the ‘Manage’ tab observed with the aid of KYC after logging in.
Also, before you may withdraw your provident fund, you may also need to feature details including your financial institution name, account range and IFSC code. This will make certain that the PF withdrawal quantity will directly get credited in your financial institution account.
How to post PF withdrawal claim on-line
Head over to EPF India’s Member e-Sewa portal, and login the use of your UAN range and password.
Click at the ‘Online Services’ tab and click on Claim (Form-31, 19, 10C). Here, form 19 is for PF withdrawal, and form 10C is for pension withdrawal.
Here, you will need to go into the ultimate four digits of your financial institution account quantity to affirm. At the bottom, click on on ‘Proceed for Online Claim’ and then you will be redirected to the claims web page.
Next, you need to pick out the form of claim underneath ‘I want to apply for’ tab – withdraw PF simplest or withdraw pension only. In case you aren’t eligible for any criteria, the option will not display up inside the drop-down listing.
After deciding on the applicable declare, you may see a detailed form. Simply fill in your info, after which authenticate the usage of Aadhaar OTP to complete the PF withdrawal claim submission. You will also get the claim shape copy in PDF layout, simply store it.
The technique normally takes about 20-30 days, after which the amount is credited to your connected bank account. You also can head over to Member e-Sewa web page, click on ‘Online Services’ accompanied through ‘Track Claim Status’ to peer the popularity of your PF withdrawal declare.