Employee Provident Fund or EPF is a scheme introduced by the Government of India in accordance with the Employee Provident Fund Act of 1952. According to this scheme, the employer and the employee contribute a certain amount of money to the provident fund. As the investment is made every month, it helps build enough savings to be used during post-retirement life. Although the PF account changes every time you move to a new company, the consolidated EPF account linked to your Universal Account Number (UAN) remains unchanged. This Universal Account Number is useful and is all you need to check your PF details. For instance, if you want to check your EPF balance or the contribution amount made by your employer, it can be done via the EPFO e-SEWA portal or SMS by logging in with your UAN and EPF mobile app. In this blog, we will let you know five simple steps for PF Withdrawal Online.
What is Needed for PF Withdrawal Online?
There might be situations such as hospitalisation, education, or the wedding of your child, home repairs and renovation when you may require quick access to your PF funds. Instead of going for a loan in such situations, you can just apply for PF withdrawal from your PF account, either partly or in whole. For the PF Withdrawal Online process, you will be required to keep your UAN handy.
If you want to withdraw funds from your EPF account via the EPFO portal, the following needs to be ensured:
- Your aadhar number must be linked to the UAN, and it should be verified
- UAN
- The bank account in which you want to receive the money must be the same as the one registered with your Aadhar card
In case of any modifications, you can update your details while completing the e-KYC process and submitting the claim.
How to Withdraw Money from your PF Account with UAN in 5 Simple Steps?
You can withdraw the PF funds online easily with the help of your UAN by going to the EPFO e-SEWA portal. Below are the five simple steps you will need to follow:
- Login to the EPFO e-SEWA portal after visiting the e-SEWA portal of EPFO:
- Log in with your UAN and password.
- Enter the captcha code.
- If you have forgotten your password, don’t worry. You can submit a request for resetting it and receive an OTP on your registered mobile number.
- Go to the online claims section: Once you log in to the EPF e-SEWA portal, you go to the ‘Online Services’ section and look for “‘Claim (Form-19, 31, 10D & 10C).’
- Enter your bank account details: Once the ‘Online Services’ section opens, you will need to enter your correct bank account number (linked with your UAN) to complete the verification process.
- Confirm the terms and conditions: Once your details have been verified, you will need to accept the terms and conditions stated by the EPF, followed by clicking on ‘Proceed for Online Claim.’
- State a reason for withdrawal: After this, you will find a drop-down menu from which you should select the reason why you are withdrawing the amount from your PF account. Only the options for which you are eligible will be shown. After selecting the reason for PF Withdrawal Online , you will be directed to enter your full address and upload your passbook/cheque book details if you have chosen the ‘Advance Claim’ option. Further, ‘ Terms and Conditions need to be accepted before you can request a one-time password for verification. The OTP is sent to your registered mobile number. Once you enter the OTP, your claim will be submitted.
After submitting the claim, you can track its status by logging into your Member e-SEWA portal account and checking under the ‘Track Claim Status. The officials at the EPF will match your information saved in their records with the information submitted in your online claim form. After their verification process is complete, they will proceed with your claim application, and the money will be credited to your bank account (seeded with your UAN).
Where Can I Find My PF UAN Number?
You can ask your employer for your PF UAN. The number is even printed on the payslips of some companies. Another way you can get to know your PF UAN is by visiting the EPFO’s Unified Member Portal and following the steps given there. You will be directed to enter your personal details and the UAN will be sent to your registered mobile number.
Conclusion
Your EP account is a very important financial resource that helps you plan your financial future after retirement. However, due to emergencies, you might need to apply for PF Withdrawal Online at any point of time. We hope the five simple steps given in this blog help you with the same.