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

What is Electronic Clearing Service (ECS)?

  As the name suggests, it's an electronic process through which money can be transferred from one bank account to another. According to RBI, this mode is usually used for regular payments and receipts, like distribution of dividend, interest, salary, pension etc. This mode is also used for collection of bills for telephone, electricity, water, various types of taxes, payment of EMIs , investments in mutual funds , payment of insurance premium etc. There are two types of ECS , like most other banking transactions, ECS credit and ECS debit. An ECS credit is used by a bank account holder , usually a large company or an institution for services like payment of dividend, in terest, salary, pension etc. If your mutual fund pays you dividend to your bank account, of all probability it is being paid through ECS credit.ECS debit, on the other hand, is used when a company or an institution is getting money from a large number of people. For example if you are investing in a mutual fund sc...
Read more

WEALTH TAX

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300 WEALTH TAX   WHAT CONSTITUTES WEALTH? For wealth tax purposes, "wealth" means property , urban land, car, jewellery , yacht, boat, aircraft and cash in hand in excess of Rs 50,000. CAUTION POINT | Do not think you will have an easy escape from wealth tax by transferring your `wealth' without consideration to your spouse or minor child. Such assets will also be considered as your wealth. HOW TO DETERMINE YOUR TAXABLE WEALTH Add the taxable value of the above assets (computed as per the detailed rules for valuation) owned by you as on March 31 (for FY 2014-15, it will be March 31, 2015). In case you sold your car during the year, it will not be taxable wealth. Deduct loans if any obtained by you to acquire any of the taxable assets from the value of gross tax out for at least 300 days in a...
Read more

Equity Savings Fund

Invest Equity Savings Fund Online   The best part about these funds is that they are subject to equity fund taxation and at the same time are structured like MIP like funds . This new category, equity savings funds , offer a little of everything. They allocate money to equities & equity related instruments, and fixed income. They aim to generate returns by diversification. Such funds invest in fixed income and arbitrage to protect the investors from short term volatility and equity for capital gains. The best part of these funds is that they are subject to equity fund taxation and at the same time are structured like MIP funds.   MIP funds however are subject to debt fund taxation. Investors Equity savings funds are suitable for the following: First time investors who seek partial exposure to equity with less volatility and greater stability Investors seeking moderate capital appreciation with relatively lower risk Those wh...
Read more

How to Pick Top Performing Mutual Fund Schemes

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300   How to Pick Performing Schemes  Funds that continue to stay in the top grade of performance over longer periods are the ones to bet on, advise investment experts   The mutual fund performance charts of the past few months make for an impressive reading. Funds across all categories boast of stellar returns. Sample this: The mid and small cap category has averaged 77 percent return over the past 12 months, with the best fund delivering a staggering 120 percent. The tax-saving funds also average an impressive 51 percent, including a fund which has soared 92 percent. Many of the table-toppers are funds of proven quality and track record. However, there are also schemes that are not that well-known. Some of these have rarely made it to the performance charts in the past, yet, of late, they bo...
Read more

8% Government of India Bonds quick guide

For those seeking comfort in safety of returns, the Government of India issued 8% savings bond once again comes to the fore. First launched in 2003, these bonds are issued by the government with a maturity of 6 years. The bonds are available at all times with specified distributors through whom you can apply to invest in them. Here is a quick guide to what the bond offers and its features to ascertain to check for suitability. What are Government of India bonds Government of India bonds are like any other government bonds with specified rate of interest. The rate is fixed at 8% per annum paid half yearly, or you can opt for cumulative payment of interest at the end of the tenure. You can buy these bonds from State Bank of India and its associates, other nationalized banks and some private sector banks such as HDFC Bank Ltd and ICICI Bank Ltd, among others. The bonds can be bought from the offices of Stock Holding Corporation of India as well. They are available in physical form onl...
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