Skip to main content

Form Filling for PF Withdrawals

EPF (Employees' Provident Fund) is a retirement saving scheme wherein employees contribute 12% of their basic pay every month. A similar amount is contributed by the employers. The contribution together forms a corpus for employees' retirement.

There are different kinds of PF withdrawals available for the EPFO member — the PF final settlement, PF partial withdrawal and pension withdrawal benefit. The withdrawal from the EPFO before the completion of 5 years of continuous service is subject to tax. The principal, as well as the accrued interest, is subject to tax. Withdrawals as a result of unemployment owing to ill-health or termination do not attract tax.


If one chooses to transfer one's PF account towards the National Pension Scheme, then it will not attract tax when one makes a withdrawal. With the amendments in rules, subscribers to EPFO do not require attestation of their employers to make a partial or complete withdrawal. The subscribers should opt for seeding their Aadhaar card details with their UAN. EPFO has made allotment of UAN, i.e Universal Account Number, compulsory for all employees covered under the PF Act.

The EPF rules allow complete withdrawal of PF money when an individual retires from employment and when an individual remains unemployed for a period of 2 months or more. The state of unemployment for more than 2 months has to be certified by a gazetted officer. Partial withdrawal is allowed in cases such as marriage, education, purchase of land or construction of a house or home loan repayment.


The subscribers can fill the composite claims forms to a request for a partial or complete withdrawal. The attestation of the employer is not required if Aadhaar card details are seeded with UAN. Earlier, Form 19, Form 31 and Form 10C were used to make withdrawals. Recently, the composite claim form has replaced these forms. Instead of requiring UAN details of the employees, composite forms require the Aadhaar details of the employee. An individual can make withdrawal request either by submitting a physical application or an online application.

The steps for physical application of the form are

1) Download the composite form by visiting epfindia.gov.in under downloads dropdown option on Miscellaneous Tab. An Aadhaar-enabled composite form can be filled and submitted to the respective jurisdictional EPFO office without the attestation of the employer whereas the new composite claim (Non-Aadhaar) form shall be filled and submitted with the attestation of the employer.


2) The online submission for withdrawal form requires your UAN to be activated and the mobile number used for activating the UAN should be in working condition.

3) UAN should be linked with KYC, i.e Aadhaar, PAN and bank details along with the IFSC code.

The steps for online EPF withdrawal are:

1)Go to the UAN portal at unifiedportal-mem.epfindia.gov.in

2) Log in with your UAN and password and enter the captcha

3) Click on the tab "manage" and select KYC to check whether the KYC details like Aadhaar, PAN and bank details are correct and verified


4) After the KYC verification, go to tab online Services and select the option 'claim' from the drop-down menu. The screen shall display the member details, KYC details and other service details.

5) Click on the tab 'proceed for online claim' to submit the claim form.

6) In the claim form, select the claim you wish to apply for, i.e full EPF settlement, EPF part settlement or pension withdrawal.

While filing the online withdrawal claim, there are three options of forms

Only PF withdrawal (Form 19) – It is used to withdraw the entire accumulated PF amount, also known as final settlement.

Only pension withdrawal (Form 10C) – This form is used to withdraw only the pension amount. The pension amount is regulated by the Employee Pension Scheme, 1950 and the PF is regulated by the Employee Provident Fund Scheme, 1952

Part withdrawal of PF (Form 31) – This form is used for processing a partial withdrawal request.




SIPs are Best Investments as Stock Market s are move up and down. Volatile is your best friend in making Money and creating enormous Wealth, If you have patience and long term Investing orientation. Invest in Best SIP Mutual Funds and get good returns over a period of time. Know which are the Top SIP Funds to Invest Save Tax Get Rich - Best ELSS Funds

For more information on Top SIP Mutual Funds contact Save Tax Get Rich on 94 8300 8300

OR

You can write to us at

Invest [at] SaveTaxGetRich [dot] Com

Popular posts from this blog

ICICI Pru Mutual Fund Dividend

ICICI Prudential Mutual Fund has announced dividend under the following schemes: Scheme Dividend ( Rs /unit) ICICI Pru Capital Protection Oriented Ser V Plan B-D 0.03611325 ICICI Pru Capital Protection Oriented Ser V Plan B Direct-D 0.03611325 ICICI Pru Balanced Advantage Direct-DM 0.06 The record date has been fixed as February 08, 2017. ------------------------------ ------ Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds Top 4 Tax Saver Mutual Funds for 2017 - 2018 Best 4 ELSS Mutual Funds to invest in India for 2017 1. DSP BlackRock Tax Saver Fund 2. Invesco India Tax Plan 3. Tata India Tax Savings Fund 4. BNP Paribas Long Term Equity Fund Invest in Best Performing 2017 Tax Saver Mutual Funds Online Invest Best Tax Saver Mutual Funds Online Download Top Tax Saver Mutual Funds  Application Forms For further information contact  SaveTaxGetRich on 94 8300 8300 ------------------------------ ------ Leave y...
Read more

Hidden Bank Fees

  What Banks Hide From Customers Imagine after a peaceful and exciting holiday you receive your bank statement with steep charges. You then rush to your bank and start confronting staff members and to your dismay, you come to know that the high end debit card was charged very heavily. Wouldn't this cause damage to your finances? So remember, the world outside is full of deceptive and double cheating people. Unethical practices are always used by company sales person in order to meet the target. Credit card companies, mutual funds and bank institutions always play dirty tricks to lure customers and the practices are rampant. So here's how you should be careful while dealing with your banks: High End Debit Card Charges While opening an account with a bank you opt for a debit card with minimal charges. But later on when you upgrade your card and opt for high end debit card the annual charge rise by a good amount. Though such a card has slew of features but it all comes at a high ...
Read more

Partial withdrawal from PPF

  Public Provident Fund (PPF) account has a lock in period   If you opened a PPF account to meet your retirement needs,, think twice about withdrawing from this fund before retirement. But provided it's an emergency here are the rules. Public Provident Fund (PPF) account has a lock in period before which you cannot withdraw your money.   The partial withdrawal is allowed after the completion of 6 financial years . This means that you will be allowed a partial withdrawal from 1 April 2017. The maximum partial withdrawal allowed is the least of the following: 50 percent of the account balance at the end of fourth financial year, 31 March 15 50 percent of the account balance of the end of previous financial year, 31 March 17.   There's a loan option available on your PPF account between the fourth and the sixth financial year. You can obtain a loan of up to 25 per cent of the balance in your account. However, this will attract interest of 2 percent more than the prevailing ...
Read more

Updating a minor PAN card upon becoming adults

  Updating a minor's PAN card once they become adults A PAN card issued in the name of a minor does not contain the minor's photograph or signature, and therefore, cannot be used as a valid proof of identity. Once a minor PAN card holder turns 18, the relevant changes must be made in the PAN records. A new card is then issued bearing a photograph and signature. Application The applicant is required to fill up the "Request for new PAN card andor changes or correction in PAN data" form. The form can be filled up online by accessing NSDL's Tax Information Network website and clicking on the online PAN application tab. Information The applicant must mention the existing PAN number in the application and check the `photo mismatch' and `signature mismatch' boxes, and submit the online form. The form must also be printed out, signed by the applicant, and submitted along with two photographs. Documents Identity and address proof in the form of a copy of the app...
Read more

ICICI Prudential Value Fund Series I

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India)   Performance of the scheme will be benchmarked to the S&P BSE 500 index ICICI Prudential Value Fund is a closeended equity scheme. The scheme will have tenure of three years (1095 days) from the date of allotment of units. Units of the scheme will be fully redeemed at the end of the maturity period, unless rolled over. NFO PERIOD:   The NFO is open from October 18 to 28. The minimum subscription during the NFO period is Rs 5,000. SCHEME OBJECTIVE:   The scheme aims to provide long-term capital growth by investing in a well-diversified portfolio of equity and equity-related securities. INVESTMENT STRATEGY:     The fund proposes to invest in stocks that are trading at a huge discount in the BSE 500 index and plans to book profit and distribute dividen...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now