Friday , 17 November 2017
Home » How to Series » Online PF withdrawal facility started – Details & Process

Online PF withdrawal facility started – Details & Process

499 views

From 1st May 2017, EPFO has launched facility to apply for PF withdrawal online. Previously, you could check the PF balance and apply for PF transfer online, and now you can withdraw PF online as well. This will be huge benefit for the PF subscribers.

Details & Features of online PF withdrawal facility

  • Members will be able to withdraw full PF amount, partial PF amount and pension.  The three forms – Form 19, Form 31, and Form 10-C — together form more than 80% of EPFO’s claim workload.
  • Online PF withdrawal can be done only by members who have activated their Universal Account Number (UAN) and have also seeded their Aadhaar-linked KYC.
  • Direct Claims:  You can make PF withdrawal claim directly. You donot need to interact with employer or PF Officer. Claims subitted will be processed online and get credited to member’s bank account.
  • Partial PF withdrawal – Members do not require to give any supporting document while submitting online PF Part withdrawal. Also, members applying online have to give their self-declaration for preferring to make advance claim.

Conditions:

  • Members need to have an activated Universal Account Number.
  • Activated UAN should have an updated mobile number.
  • Aadhaar details have to be mentioned in EPFO database.
  • Avail the OTP-based facility for verifying their eKYC from UIDAI while submitting their online claims.
  • Members bank account along with IFSC code, PAN needs to be mentioned in the EPFO database for PF final settlement claims in case your service is less than 5 years.

Process:

  • You need to login to the member interface using UAN credentials.
  • You have to check that KYC and service shown against his UAN are correct or not.
  • You then have to select the relevant claim.
  • Finally, you need to authenticate the process using Aadhaar credentials – OTP on registered mobile number.

If you have any queries related to this article or any other personal finance query ( Investment, Taxation etc), please comment below

http://wealth18.com/

About wealth18

The author is a Chartered Accountant and loves to write about Personal Finance, Wealth Management, Taxation etc. Disclaimer - The articles on this website is for informational and knowledge purposes and should not be treated as financial advice, Please consult your financial advisor before taking any investment decision.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

6000 + Subscribers – Subscribe to our New Posts

Copy Protected by Chetan's WP-Copyprotect.