How to withdraw EPF online? How much EPF withdrawal is allowed & under what conditions? These are some frequently asked questions when it comes to EPF withdrawal. In this post, I will share complete information about How to withdraw EPF Online (method) and withdrawal rules.
Employee Provident Fund (EPF) is also known as PF. EPF is retirement corpus for most of the salaried individuals in India. Under employee provident fund scheme employee contribute a small portion of their salary i.e 12% of their basic monthly pay. A similar amount is contributed by the employer in the same account. Apart from the monthly contribution the fixed interest amount is also payable on this fund. So, employees would be able to build a big corpus up to retirement.
Earlier EPF withdrawal was not allowed, but now rules are modified and one can withdraw part of EPF corpus under special conditions. Terms and condition for partial withdrawal of EPF are given below.
Reasons to Withdraw EPF
You can withdraw EPF for the following reasons/conditions –
|Reason||Withdrawal Limit||Eligibility||Other Terms|
|Medical Treatment||Six month of your salary or Dearness allowance with interest – whichever is lower.||Anytime during service but having continuous PF contributions.||For medical treatment of self or family member. Hospital/doctor certificate mandatory.|
|Marriage||Maximum 50% of your contribution to EPF||Have minimum seven years of service with continuous PF contributions.||Marriage of Self, children, brother or sister.|
|Home Improvement||Amount equal to one year of basic salary, provided enough fund is available in EPF account.||Minimum five years of service with continuous PF contributions.||Home should be owned by PF account holder/spouse or jointly.|
|Buying own Home||Maximum 36 months salary with Dearness allowance, provided enough fund is available in EPF account.||Minimum five years of service with continuous PF contributions.||Home should be owned by PF account holder/spouse or jointly. Proof of holding is compulsory.|
|Repaying Home Loan||Up to 90% of total amount in EPF account can be withdrawn, including employer contribution and interest.||Minimum 10 years of service with continuous PF contributions.||Home should be owned by PF account holder/spouse of jointly. Proof of holding is compulsory. Minimum EPF balance in EPF account should be Rs.20,000 at the time of applying for withdrawal.|
|Buying Land||Up to 24 months salary with dearness allowance.||Minimum five years of service with continuous PF contributions.||Land should be owned by PF account holder/spouse or jointly. Proof of holding is compulsory.|
|Education||Maximum 50% of your contribution to PF.||Minimum seven years of service with continuous PF contributions.||Available for self and children, for higher education after SSC or equivalent.|
|Pre-retirement needs||Full amount, including own and employer contribution with interest.||After 57th Birthday.||No conditions. PF can be withdrawn any time after 57th Birthday.|
Before EPF withdrawal –
Before you consider EPF withdrawal you should find out how much money you actually required. EPF is your retirement corpus and it is not a good idea to withdraw money from EPF account. Make sure your requirement is desperate and EPF withdrawal is inevitable. If it is the case go ahead and follow the step given below to prepare yourself for EPF withdrawal.
- Prepare Documents required for withdrawal
EPF withdrawal online or offline requires submission of various proofs and documents. Here are some documents which you require for withdrawal.
- Aadhar Card
- Permanent Account Number (PAN)
- Universal Account Number (UAN) issued by EPFO
- Check EPF Balance
Next step is to check EPF Balance. This is to assess the account status and amount that can be withdrawn. Four simple ways to check EPF balance are given below.
- Download EPF Passbook via UMANG app.
- On EPF Member Passbook Portal.
- From nearest EPFO office.
- By EPFOHO SMS service.
- File EPF Claim
Once you are done with documentation and checking EPF balance, you can go ahead and withdraw EPF. There are four different methods to withdraw EPF.
- Withdraw EPF Online via Umang App
- Withdraw EPF Online via EPFO Website
- EPF withdrawal with Aadhaar Card – Offline
- EPF withdrawal without Aadhaar Card – Offline
How to withdraw EPF Online & Offline?
How to withdraw EPF Online?
You can withdraw EPF Online via two methods. First is via Umang App and second is via EPFO website.
#1 Umang App
The simplest way to withdraw PF is via smartphone Umang App.
- First, download and install the UMANG app. You can get UMANG app from Google Play or UMANG website. UMANG stands for Unified Mobile Application for New-age Governance.
- After installing UMANG app, complete the registration. It is very simple and requires one-time verification with OTP.
- Once your UMANG app is registered, go to the menu indicating various services. Here you will find the EPFO logo.
- Click on the EPFO logo. The app will now display various services.
- Select ‘Employee Centric Services’ on the app.
- Now the app will display various services, including part withdrawal of EPF account and a full withdrawal.
- Select the service you need. Provide your Universal Account Number (UAN) and other details for identity verification.
- It will generate OTP for verification.
- After verification fill up necessary details and click the OK key to withdraw.
- You will get SMS stating that your withdrawal request has been received by EPFO.
Now you can check the status of your claim after a few days on EPF website.
#2 EPFO website
The second method for EPF withdrawal is via EPFO website – Unified Member Portal.
- First, register on unified member portal via UAN number and personal details.
- After registration login to the portal with UAN and Password.
- From top navigation menu click on Online Services > CLAIM (FORM 31, 19 & 10C)
- You will be prompted to verify your bank account details. Once your bank account details are verified you can proceed for online claim.
- Now, you need to select PF Advance Form and select purpose of Advance.
- Next is filling up amount of withdrawal. After that you need to fill up your address and provide consent.
- Next is clicking on ‘Get Aadhaar OTP’.
- You will get OTP on mobile number. Confirm your transaction with OTP. Your claim is submitted now.
You can track the status of your claim after a few days on the EPF website.
How to withdraw EPF Offline?
You can withdraw EPF Offline via two different methods. First is Aadhaar enabled withdrawal and second is without Aadhaar.
#3 EPF withdrawal with AADHAAR
This is a manual method which requires submission of Composite Claim Form. After you fill up Composite Claim Form submit it to nearest EPFO office. It is Aadhaar enabled withdrawal and does not require endorsement from the previous employer. It is a recommended method if your relationship with your employer is bad.
To use this facility, make sure that your PF account is linked with Aadhaar. This method also required enablement of Universal Account Number (UAN) while filling up the claim form. You can find UAN number detail from your employer or from salary slip.
#4 EPF Withdrawal without Aadhaar
EPF Withdrawal without Aadhaar is one of the oldest and complex process. If you are not holding Aadhaar card you can make use of this process. In this process, you need to provide your PAN card number and your old EPF account number.
These details are required to be mentioned in the Composite Claim Form (Non-Aadhaar). You will be required to go for additional documentation in this method.
Please note that the manual/offline method of withdrawal is time-consuming and not recommended. It also involves the requirement of various supporting documents.
Conclusion – EPF is your retirement corpus. If you are withdrawing money from EPF you may face financial problem post-retirement. Think twice before EPF withdrawal. In case all other options of getting money is ruled out you can go for EPF withdrawal.
Make sure to go for an online method for withdrawing money from EPF account. The online method of withdrawing money from EPF is easy and less time-consuming. In case you are facing any problem in EPF withdrawal feel free to post your queries in the comment section given below.