How To Withdraw PF Amount in 2025, In detail

Synopsis

The process of withdrawing the Employees’ Provident Fund (EPF) amount can be completed either through a physical application or an online application. The withdrawal method chosen depends on whether the applicant’s Aadhaar and bank details are linked to their Universal Account Number (UAN). The EPFO has also introduced new features to streamline the withdrawal process, including a planned ATM withdrawal option expected by mid-2025.

Read Also: UAN’s Role in Provident Fund Money Transfer, Simplified by EPFO- In Detail

Main Points to Consider

1. Withdrawal Methods: EPF withdrawal can be done through physical applications (with specific forms) or online via the UAN portal.
2. Forms Required: Different forms are used based on the type of withdrawal: Composite Claim Forms for Aadhaar and Non-Aadhaar users, EPF Form 19 for final settlements, and Form 31 for partial withdrawals.
3. Tax Implications: Withdrawals are tax-free if the account has been active for five continuous years. TDS deductions apply to early withdrawals.
4. Documentation: Essential documents include UAN, bank account details, identity proof, and a cancelled cheque.
5. Status Tracking: Applicants can check the status of their withdrawal claims online.

How To Withdraw PF Amount in Detail

1. Withdrawal Methods

Physical Application

• Composite Claim Form (Aadhaar): Required if Aadhaar and bank details are linked to the UAN. This form can be submitted without employer attestation.
• Composite Claim Form (Non-Aadhaar): Necessary if Aadhaar is not linked. This form requires the employer’s attestation.

Online Application

• The EPFO offers an online withdrawal facility that simplifies the process. To apply online, the UAN must be activated, and KYC details must be verified.

2. Steps to Apply for EPF Withdrawal Online

• Login: Access the UAN portal using your credentials.
• KYC Verification: Ensure that your KYC details are verified.
• Claim Submission: Navigate to the ‘Online Services’ tab, select the claim type, and fill out the required information.
• Final Submission: Confirm the details and submit the application.

3. Tax Implications of EPF Withdrawal

• Tax-Free Withdrawals: If the EPF account has been active for five years, the withdrawal is tax-free.
• TDS Deductions: If withdrawn before five years and the amount exceeds Rs. 50,000, TDS is applicable. A 10% TDS applies if PAN is provided; otherwise, it is 30%. No TDS applies after five years.

4. Documentation Required

To successfully withdraw the EPF amount, the following documents are needed:

• UAN
• Bank Account Information
• Identity and Address Proof
• Cancelled Cheque with IFSC Code

5. Process to Enter Exit Date

Employees can now enter their exit date through the UAN portal, streamlining the process that previously required employer intervention.

5. Process to Enter Exit Date

Employees can now enter their exit date through the UAN portal, streamlining the process that previously required employer intervention.

6. Checking PF Withdrawal Status

The status of the withdrawal claim can be checked online by logging into the UAN portal and navigating to the ‘Track Claim Status’ section.

7. Contact Information

For assistance, users can reach out via:

• Toll-Free Number: 14470
• Missed Call Number: 9966044425
• Email: employeefeedback@epfindia.gov.in

8. Forms Used for EPF Withdrawal

• EPF Form 19: Used for final settlements. It includes personal details and requires signatures from both the employer and employee.
• EPF Form 31: For partial withdrawals or advances from the EPF account. Requires KYC details to be verified on the portal.
• Form 10C: Used for withdrawing or transferring the EPS amount.

Filling the Forms

Forms can be filled out both online and offline. The online process allows for a more straightforward submission, while offline requires physical submission at the EPFO office.

9. Home Loan Based on EPF Accumulation

Employees can borrow against their EPF contributions for home purchases or construction, provided they have been in service for five continuous years.

10. Withdrawal Without UAN

Read Also: UAN’s Role in Provident Fund Money Transfer, Simplified by EPFO- In Detail

If UAN is not available, the old withdrawal process must be followed, which includes submitting the withdrawal form at the Regional Provident Fund Office with necessary identity verification.

EPFO’s new features and benefits will be effective from 2025

• The introduction of self-certification for partial withdrawals simplifies the process for EPF subscribers.
• The EPFO’s planned feature for ATM withdrawals aims to enhance user experience and accessibility.
• Documentation and verification processes are crucial for the successful withdrawal of EPF funds.

Final Takeaway

The EPF withdrawal process has become more user-friendly with both physical and online options available. Understanding the necessary forms, tax implications, and documentation is essential for a smooth withdrawal experience. The planned improvements, such as ATM withdrawals, indicate ongoing efforts to enhance the EPFO services. Users should ensure their KYC details are up to date and be aware of the tax implications related to their withdrawal timing.

Read Also: UAN’s Role in Provident Fund Money Transfer, Simplified by EPFO- In Detail