Employees’ Provident Fund (EPF) employees can withdraw their Provident Fund (PF) stability thru online method. This can be done via the member e-SEWA portal of EPFO. The personnel can withdraw their complete savings inside the PF after they retire or they can also withdraw a partial amount in the event that they meet sure criteria, in the course of the monetary emergency.
A step-by–step guidefor online PF withdrawal:
1) Visit the official Universal Account Number (UAN) portal
2) Log in the usage of your UAN and password
three) Enter the captcha for verification.
4) Go to the ‘Online Services’ tab and select the option ‘Claim (Form 19, 31, 10C or 10D)’ from the drop-down menu.
Five) On the next display, enter your financial institution account range and click on on ‘Verify’.
6) Now click on on ‘Yes’ and continue.
7) Click on‘Proceed for Online Claim’.
Eight) In the claim shape, pick the claim you require under the tab ‘I need toapply for’.
Nine) Select ‘PF Advance (Form 31)’ to withdraw your fund. Then provide the motive of such increase, the amount required and the worker’s cope with.
10) Click at the certificate and post your software.
11) The employee may be requested to put up scanned files for the reason you’ve got filled the shape.
12) After the company approves the withdrawal request, you’ll obtain cash for your bank account.
Documents Required for PF withdrawal:
Composite Claim Form
Two sales stamps
Bank account assertion (The bank account should be most effective in the call of the PF holder while he/she is alive)
One blank and cancelled cheque with IFSC code and account quantity
Personal statistics like father’s call, Date of Birth, need to honestly match with the identification proof
If an worker withdraws his PF amount before five years of continuous carrier, he/she is prone to facilitate Income Tax Returns (ITR) Forms 2 and 3 on the way to show a detailed breakup of the complete amount deposited in PF account each year.
Benefits of PF withdrawal online:
Hassle-loose withdrawal: The on line technique saves an man or woman from the nuisance of touring the PF office in person, waiting in queues to get the paper work completed.
Processing time is minimized: With online claims, the amount will be processed and credited into your bank account inside 15-20 days of the utility.
No need to visit the previous agency for verification work: Online claims are tested without difficulty and routinely.